Where a lessor seeks to rent or lease equipment including office machines, farm equipment, motor vehicles or trucks a written lease is generally required.
The LightYear Docs Equipment and Motor Vehicle Lease Agreement is a general finance lease agreement and covers all the major terms such as lease payments, repairs and maintenance, outgoings to be met by the lessee, term of the lease, residual values and ownership retained by the Lessor.
The LightYear Docs Equipment and Motor Vehicle Lease Agreement is a general finance lease agreement and covers all the major terms such as lease payments, repairs and maintenance, outgoings to be met by the lessee, term of the lease, residual values and ownership retained by the Lessor. Prepared and provided by Abbott & Mouly Lawyers it is the best and most forward looking in its class.
- Comprehensive lease
- Wide range of equipment and vehicle options
- Multi-asset lease
- Perfect and vital for related party transactions
- Compliant with the superannuation, taxation and finance laws
- Signed off by Abbott & Mourly
- Ready for PPSR registration
Frequently Asked Legal Questions
Is this document a legal document?
All master documents have been signed off by Abbott & Mourly lawyers. Tony Anamourlis of Abbott & Mourly advises that “at no time, due to inbuilt legal protection and security measures can a user change or amend a document on the LightYear Docs platform that has been signed off by a practicing solicitor. To do so would result in the user drafting a document of a legal nature and engaging in the provision of legal services. In addition, it would be a breach of copyright. In our opinion when completing the form fields through the LightYear Docs platform, users and their employees are merely carrying out an administrative task which is not the provision of legal advice.”
However in some complex areas such as the insertion of a varied range of client instructions into a Will or other such documents the user must be mindful of the extent to which a document is being drafted by the user rather than merely the administrative task of completing a form where the relevant fields are inserted into the reviewed and signed legal document provided by Abbott & Mourly.
The above advice is born out of numerous cases dating back to Re Sanderson, Ex parte Law Institute of Victoria  VLR 394, 397 where the Court held:
“if a person does a thing usually done by a solicitor, and does it in such a way as to lead to the reasonable inference that he is a solicitor – if he combines professing to be a solicitor with action usually taken by a solicitor – I think he then does act as a solicitor.”
Likewise in ACCC v Murray (2002) 121 FCR 428, 448 where Murray was building a franchise business that involved the legal writing and drafting of Wills from scratch based on the client’s personal circumstances. The Court held that this process was legal work.
Is the document easy to read?
All LightYear Docs products are written in plain English and assessed for readability. If at any time you come across any errors, please contact email@example.com.
Can I get a sample of this document?
Yes, please email firstname.lastname@example.org to request a sample document for you to review.
Can I use this Lease for a lease of a motor vehicle from a SMSF to a related discretionary trust?
A written lease is required where a SMSF leases any property to a third or a related party. Care must be had to the in-house assets and it is wise to seek advice from Abbott & Mourly prior to engaging in any related party transaction with a SMSF.
Can the lease term be extended?
The lessor and the lessee can extend the lease prior to and at the end of the term. How many times and for what terms are to be included in the document.
Is lease/rent payments fixed or variable?
Lease payments are fixed for a period of the lease but may be changed by agreement between the parties
What happens at the end of the lease?
The Lessor may agree with the Lessee to extend the lease or commercially auction the leased asset to a third party on which the lessee may bid.
Can an Associate be the Lessor?
Yes the LightYear Docs Equipment and Motor Vehicle Lease Agreement allows a related party such as a spouse to be the lessor and lease the equipment to a spouse for asset protection and tax purposes.
Is there any training on the LightYear Docs Equipment and Motor Vehicle Lease Agreement?
We have LightYear Docs Equipment and Motor Vehicle Lease Agreement training on www.lightyeardocs.com in our Strategy Centre. Please review the training before completing any LightYear Docs Equipment and Motor Vehicle Lease Agreement.
What is the difference between this lease and a commercial hire purchase?
With a CHP the owner of the asset is the lessee and the agreement is in the nature of a loan. With the LightYear Docs Equipment and Motor Vehicle Lease Agreement the lessor retains ownership and can access and tax depreciation in that regard.
Is the LightYear Docs Equipment and Motor Vehicle Lease Agreement reviewed regularly?
All LightYear Docs documents form part of the LightYear Docs internal document review cycle. All documents are scheduled to be reviewed at least annually or when required to do so, due to changes in legislation. The LightYear Docs review cycle ensures all of our documents remain current and accurate.
Can this document be digitally signed?
YES. In line with current legislation, our legal partner Abbott & Mourly have advised that digital signatures are legally binding on this document. (Note: Integration with HelloSign coming soon to Lightyear Docs). You can read more about digital signatures on the strategy centre by searching "digital signatures".
What happens after I purchase this document?
After you purchase this document, you will experience first-hand the power of our assembly engine, HotDocs. An interview session will appear in what is called the HotDocs iFrame. Through the use of the iFrame technology, we are able to create document templates in minutes, versus months of coding through other methods. The iFrame also allows for rapid integrations and documentation to be assembled instantly in "lines" or packs of documents.
Can I edit my document after it has been completed?
Your document will be available to edit from the LightYear Vault for 90 DAYS after you have completed the interview process, at which point it will be locked for future edits. Your completed documents will be listed under "My Vault" from the drop-down menu in the top right-hand corner after you login. This is also where you re-launch an "interview" to make edits within the first 90 DAYS.
Can I save a document to complete later?
Yes, provided you select save, you can exit the interview process at any time. All documents that have been purchased and not yet assembled will be saved under "My In Progress Docs" and are accessible from the drop-down menu in the top right-hand corner after you login. This is also where you re-launch an "interview" to continue the interview process and assemble your document.