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Bailment is distinguished from a contract of sale or a gift of property, as it only involves the transfer of possession and not its ownership.To create a bailment, the bailee must both intend to possess, and actually physically possess, the bailable chattel for example a car mechanic business when a car has been dropped off for repair.
A "sale/leaseback" or "sale and leaseback" is a transaction in which the owner of a property sells an asset, typically real estate, [4] and then leases it back from the buyer. In this way the transaction functions as a loan , with payments taking the form of rent .
Sale and rent back is a form of property transaction involving the expeditious sale of an owner occupier's residence to a landlord or property company and renting it back from the new owner. This may be done by the occupier to release equity from the home without them having to move out, but there are risks and disadvantages for the occupier.
A common transaction involving bailment is a conditional sale or hire-purchase, in which the seller lets the buyer have possession of the thing before it is paid for. The buyer pays the purchase price in installments and, when it is fully paid, ownership of the thing is transferred from seller to buyer.
On paper, Best Buy's new Buy Back program sounds pretty great: Use a product for a couple of months or years, then sell it back to the store when you want to upgrade to the "latest and greatest ...
The right of first refusal – for example, if Joey sells property to Rachel, he may require that if Rachel later decides to sell the property, she must first give Joey the opportunity to buy it back. The establishment of public parks and gardens, as was the case for the Royal Parks of London in the UK.
In later years the practice—especially in Scotland and on the continent—was to execute together the wadset and a separate back-bond according the reverser an in personam right of reverter. An alternative practice imported from Norman law was the usufructory pledge of real property known as a gage of land .
A pledge is a bailment that conveys title to property owned by a debtor (the pledgor) to a creditor (the pledgee) to secure repayment for some debt or obligation and to the mutual benefit of both parties. [1] [2] The term is also used to denote the property which constitutes the security. [3] The pledge is a type of security interest.