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leasing price for financial leasing from abroad to be at least equivalent
to 25,000.- US Dollars is not preserved in Law No. 6361. The
Association shall regulate the procedures and principles of financial
leasing from abroad.
Pursuant to another important change introduced by Law No. 6361,
even if the leased good is not yet produced or its possession is not yet
transferred, it may be regulated in the agreement that the lessee shall
commence payment of the lease as of the date of the agreement.
As under the Abrogated Law, the lessee shall be the possessor of
the leased good. It shall use the good in compliance with the agreement
and with diligence and it may benefit from the good. The leased good
must be insured and the lessee shall pay the premiums. Unlike the
Abrogated Law, Law No. 6361 does not specify the insurer; it shall be
regulated under the agreement.
The lessee may be granted a purchase right under the agreement.
The lessee shall be responsible for all loss and damages on the
good for the duration of the agreement. The lessor shall not be respon-
sible for any defects on the good.
The Abrogated Law included a provision which stated that the
lessee could not transfer possession of the leased good. In 2007 new
provisions were introduced enabling the lessee to transfer possession
(a) by obtaining the written approval of the lessor for leasing transac-
tions for the purpose of providing housing to consumers and financing
investments, (b) solely by notifying the lessor of leasing transactions
regarding housing finance and (c) in accordance with the provisions of
the leasing agreements for other types of leasing transactions.
Law No. 6361 facilitated the transfer of possession of the leased
good and even the change of the lessee. Accordingly, even if there is
no contractual provision enabling such transfer, the lessee may trans-
fer its rights and obligations under the agreement or the agreement
itself with the written approval of the lessor. There is no obligation to
obtain the approval of the lessor for transfers under lease agreements
in relation to housing finance; the lessee may transfer possession of the
good to a third person by notifying the lessor of the transfer.
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