Can anyone tell me if what the difference between "renting" and "leasing" is?
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Filed August 09, all payments made as of July 12th, 2013.....Waiting on final audit and discharge! -
Renting means you pay money to the owner of property for the privelege of using his property.
Leasing means you use property owned by someone else and pay the owner money for that privilege.
See the difference?Pay no attention to anything I post. I graduated last in my class from a fly-by-night law school that no longer exists; I never studied or went to class; and I only post on internet forums when I'm too drunk to crawl away from the computer. -
so there is none.Filed August 09, all payments made as of July 12th, 2013.....Waiting on final audit and discharge!Comment
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Originally posted by DUMBAGAIN View Post
The term "lease" tends to be used when the arrangement is longer term; rent when the arrangement is shorter term. Think of the difference between renting a car and leasing a car. But they are identical conceptually. You are paying money for the use of someone else's property for a finite term. In contrast to "purchase" or "buy", ownership does not change hands.Last edited by MSbklawyer; 05-02-2010, 07:25 AM.Pay no attention to anything I post. I graduated last in my class from a fly-by-night law school that no longer exists; I never studied or went to class; and I only post on internet forums when I'm too drunk to crawl away from the computer.Comment
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there is no difference when it comes to home rental/lease. cars are a different matter...Filed: 6-7-2010 341: 7-15-2010 DISCHARGED: 9/17/2010
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thank you.Filed August 09, all payments made as of July 12th, 2013.....Waiting on final audit and discharge!Comment
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Often, when someone is "renting" they are considered "month-to-month." They can choose to move at any time without penalty. When someone is "leasing" they have agreed to rent the property for xx number of months. If they want to move before that xx number of months has elapsed, they have to pay a penalty or "buy-out" the lease....Filed Chapter 13 on 2-28-10. 341 completed 4/14/10. Confirmed 5/14/10. Lien strip granted 2/2/11
0% payback to unsecured creditors, 56 payments down, 4 to go....Comment
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