Any California transaction that creates a lease of personal property, including equipment leases, is governed by Division 10 of the Uniform Commercial Code.

Personal property leasing has become a very common form of capital equipment financing that extends to all types of light and heavy equipment. Outside the familiar automobile leasing context, some of the most common examples of equipment leasing include office equipment, communications equipment, machine tools, construction equipment, transportation equipment, and energy production equipment. Equipment leasing can be as simple as a two-party lease of a personal computer, or as complex as an international multiparty, multitiered leveraged lease of a nuclear reactor facility with a separate but equally complex international leveraged lease of the reactor fuel.



  • Draft equipment lease agreements and related documents.
  • Draft equipment purchase financing agreements and related documents.
  • Draft finance lease agreements and related documents.
  • Draft loan documents in which equipment serves as security interest.
  • Draft installment lease agreements and related documents.
  • Assist in obtaining California Finance Lenders Law (“CFLL”) license for lenders and brokers and in drafting documents in compliance with CFLL and other applicable lending laws.
  • Assist in drafting financing agreements that qualify as a true leases and structuring lease transactions by balancing the risks of recharacterization with the client’s desired accounting, tax, or security goals.   Work closely with the client and the client’s accounting and tax professionals to articulate and achieve these goals.
  • Advice concerning compliance with UCC, CFLL, state and federal lending laws, and other applicable laws.
  • Mergers and acquisitions transactions involving equipment leases.
  • Representation in capital raising transactions in compliance with securities laws.