Who owns the equipment under a tax-exempt lease and who is responsible for maintenance, insurance and taxes?

The lessee takes title to the equipment or deed to the property at the beginning of the lease. The lessor takes a security interest in the equipment or property as collateral. The lessee is responsible for the use, maintenance and insuring of the equipment or property throughout the term of the lease agreement.

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Community Leasing Partners (CLP) is providing information contained on this website, including any downloadable documents, for discussion purposes only in anticipation of engaging in a commercial, arm’s length transaction in which CLP would be acting solely as a principal and not as a municipal advisor, financial advisor or fiduciary to you or any other person or entity. CLP will not have any duties or liability to any person or entity in connection with the information provided herein. The information provided is not intended to be and should not be construed as 'advice' within the meaning of Section 15B of the Securities Exchange Act of 1934. Please consult with your own legal, accounting, tax, financial & other advisors to the extent you deem appropriate.

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