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A lease is not a secured transaction and is not subject to Article 9 of the US Uniform Commercial Code (UCC ). Since the lessor of commercial goods , such as equipment , owns the goods, it is not technically necessary for a lessor to perfect a security interest in the collateral .
How do I report a landlord in WV?
Legal Aid of West Virginia. 1-800-319-4201. The West Virginia Attorney Generals Office of Consumer Protection. The Cabell County Magistrate Court Clerk. 304-526-8642. The HUD Complaint Line for Bad Landlords in Federal Housing. 1-800-685-8470. Cabell County Health Department. 304-523-6483.
Do leases have to be recorded in North Carolina?
A note about lease terms According to North Carolina G.S. 47-18, a tenant who is leasing space for a term of more than three years should ensure that a memorandum of lease be executed and recorded in the office of the register of deeds in the county where the property is located.
How are leases accounted for?
The equipment account in the balance sheet is debited by the present value of the minimum lease payments, and the lease liability account is the difference between the value of the equipment and cash paid at the beginning of the year.
Can you kick someone out of your house in West Virginia?
Yes, you can kick someone out of your house in West Virginia. However, if the person paid rent to live in your home, or provided services around the home in order to live there, you may be required to follow the legal eviction process to remove them from.
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State law prohibits landlords from entering rental housing without either the consent of the tenant or providing reasonable notice in advance, unless circumstances require the landlord to perform emergency repairs.
How much notice does a landlord have to give a tenant to move out in WV?
For a tenant with no lease or a month-to-month lease in West Virginia, the landlord must serve them a 30-Day Notice to Quit to end the tenancy. This eviction notice allows the tenant 30 calendar days to move out.
How do you record a lease on a balance sheet?
A lease will be recorded on the balance sheet as a right-of-use (ROU) asset and lease liability. The lease liability is the payment obligation over the term of the lease contract, while the ROU asset represents the control of the asset under the lease contract.
Do leases have to be recorded in Virginia?
A memorandum of lease is often recorded in connection with a commercial lease. However, it is not required in Virginia to record the lease (or a memorandum of lease) for a lease to be enforceable against third parties with constructive notice of a tenants possession.
Are leases recorded in California?
Recording. A lease (or memorandum thereof summarizing key provisions) may be recorded in the official public records of the county in which the leased premises are situated.
Related links
W. Va. Code R. 47-35-12 - DEED AND LEASE DISCLOSURE
Recording Requirement. -- The owner of the property on which a hazardous waste management facility is located must record, in accordance with state law,
40-1-8. Effect of recording certain contracts as to creditors and purchasers; memorandum of lease may be recorded. Any contract in writing made in respect to
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