Terms Used In Virginia Code > Title 8.2A > Part 3 - Effect of Lease Contract

• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Consumer lease: means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is an individual and who takes under the lease primarily for a personal, family, or household purpose. See Virginia Code 8.2A-103
• Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (§ Virginia Code 8.2A-103
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lease: means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. See Virginia Code 8.2A-103
• Lease agreement: means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this title. See Virginia Code 8.2A-103
• Lease contract: means the total legal obligation that results from the lease agreement as affected by this title and any other applicable rules of law. See Virginia Code 8.2A-103
• Leasehold interest: means the interest of the lessor or the lessee under a lease contract. See Virginia Code 8.2A-103
• Lessee: means a person who acquires the right to possession and use of goods under a lease. See Virginia Code 8.2A-103
• Lessor: means a person who transfers the right to possession and use of goods under a lease. See Virginia Code 8.2A-103
• Lien: means a charge against or interest in goods to secure payment of a debt or performance of an obligation, but the term does not include a security interest. See Virginia Code 8.2A-103
• Purchase: includes taking by sale, lease, mortgage, security interest, pledge, gift, or any other voluntary transaction creating an interest in goods. See Virginia Code 8.2A-103
• Sublease: means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease. See Virginia Code 8.2A-103