Lease-Purchase Arrangements In Indonesia's Legal System

Notary

In Indonesia, a notary is a government officer who performs many of his/her primary government functions in the area of private law. Law No. 30 of 2004 on Notary Positions was revised in 2014 by the enactment of Law 2 of 2014. A notary has obligations as a public official and the ability to execute authentic deeds among other authorities regulated by the UUJN and other laws. An authentic deed is one that is made in the form prescribed by law. An engagement is a property-related legal relationship between two parties. The scope of the engagement is to do something, or to refrain from doing something, and to contribute something. Leasing purchase agreements are a cross between sales and buy and lease agreements. Under a lease purchase agreement, the risk of destruction of the items stays with the owner, but ownership rights do not pass to the purchaser until the installment payment is paid in full. If the buyer assumes the risk, the seller has the guarantee that the buyer will not abuse the things in his/her possession.

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