This template should be used where all the chattels and equipment belong to the owner/lessor outright and are not subject to any bill of sale, charge, mortgage, hire purchase agreement or finance lease.

A chattels lease can be used to allow flexibility within a group of companies' activities where there are several different businesses being conducted. For example, a company that does landscaping may have another group company that does earth moving or provides soil, turf, gravel etc. or which sells plants or runs a nursery. Quarantining the major chattels assets such as trucks, earthmovers, tractors etc. may not only have asset protection advantages but also allows a more flexible base for use.

Chattels leases are also often used as part of asset protection planning and you should consult your lawyer and/or accountant to discuss how to use a chattels lease in your particular circumstances and what steps you should put in place.