How does a domain lease work?
A domain lease consists of several steps. First, you need to determine with the seller the transaction conditions, i.e. the rent amount, the duration of the lease and the possibility to terminate the lease and the available methods of settlement.
The lessor initiates the lease transaction with the determined parameters. As a lessee, you have to accept the transaction terms. i.e. agree to the proposed rent and other transaction conditions. You will do this in your user panel by selecting a transaction from the list of transactions pending acceptance.
If you are leasing a domain on the marketplace, the rent and the lease duration are predetermined. Therefore, we assume that by leasing a domain in this manner, you agree to enter into such a transaction and an additional confirmation stage is no longer necessary.
Then, the domain is awaiting the payment of the first rent. You have to pay the rent by the agreed due date.
Once the first rent is paid, the domain is transferred to your account within a few minutes. From now on, you become the lessee of the domain and can manage it at your own discretion.
Once the lease starts, you have to pay the rent in due time. Your failure to pay the rent may result in the lessor's termination of the lease.
If the lease duration is definite, the lease will end by the specified date and the domain will be returned to the lessor's account. If the lease duration is indefinite, you can terminate the lease with a specified period of notice. If the lease conditions allow the lessor to terminate the lease, the lessor can also terminate the lease with a set period of notice.
You can also exercise the pre-emptive right to buy a domain during the lease only if the terms of the lease allow you to do so.
Tags: domain lease
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