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FAQs

We are an automobile-leasing company. One of our lessees has defaulted on payment under the lease and has refused to return the vehicle. What options are available to us?

The remedies available are first dependent on any lease agreement executed by the lessee and lessor. Typically, a lessor must provide notice of default to the lessee before taking any steps such as enforcing a registered security against the vehicle. The lessee has the opportunity to remedy the default within the prescribed notice period, failing which the lessor can seize the vehicle and sell it. The lessor can then commence a court action to recover any amounts in arrears or any loss sustained on the sale of the vehicle.

© 2015 Lawrence, Lawrence, Stevenson LLP

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43 Queen Street West, Brampton, ON, Canada L6Y 1L9
Telephone: 905.451.3040 Fax: 905.451.5058 Email: lls@lawrences.com

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