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In a lessee and lessor relationship can one have a finance lease while the other has...

In a lessee and lessor relationship can one have a finance lease while the other has a operating lease or do they both have to have the same type of lease?

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If a lessee and lessor involves in single lease agreement then both have to have same type of lease that is either Finance Lease or Operating Lease because at the same time, the lease can't be treated as both finance lease and operating lease. In case of Finance lease, the lessee will get ownership at the end of the term period and in case of Operating Lease, the lessor will continue to have the ownership during the complete tenure of the lease. Hence, the lessee and lessor both have to have the same type of lease.

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