Capital Lease The PV of the payments is at least 90% of the fair market value of the asset. The lease transfers ownership of the property to the lessee by the end of the term of the lease. The lease term is 75%or more of the estimated economic life of the asset. The lessee can purchase the asset at a price below fair market value at the end. slide 5slide 5 Capital Lease Capital Lease ƒ The PV of the payments is at least 90% of the fair market value of the asset. ƒ The lease transfers ownership of the property to the lessee by the end of the term of the lease. ƒ The lease term is 75% or more of the estimated economic life of the asset. ƒ The lessee can purchase the asset at a price below fair market value at the end