The Consumer Leasing Act (15 USC 1667 et. seq.) was passed to assure that meaningful and accurate disclosure of lease terms is provided to consumers before entering into a personal property lease. It applies to certain consumer leases of personal property. This form does NOT include such disclosures.
For any consumer lease subject to this Act, the lessor must disclose such information as the following:
" Description of property;
" Amount due at lease signing or delivery;
" Payment schedule and total amount of periodic payments;
" Disclosure of other anticipated charges during normal execution of the lease agreement;
" Total of payments;
" Payment calculation;
" Lease term;
" Early termination conditions and penalties;
" Maintenance responsibilities;
" Purchase option;
" Statement referencing "nonsegregated" disclosures;
" The right of appraisal;
" Liability at the end of the lease term;
" Fees and taxes;
" Insurance and warranties.
Missouri Personal Property Lease or Rental Agreement of Equipment and Furniture with Option to Purchase and Own — Lease or Rent to Own is a legally binding contract that outlines the terms and conditions for leasing or renting equipment and furniture in the state of Missouri. This agreement provides tenants the opportunity to potentially acquire ownership of the leased or rented items at the end of the lease term. Keywords: Missouri, Personal Property Lease, Rental Agreement, Equipment, Furniture, Option to Purchase, Option to Own, Lease, Rent, Rent to Own. Types of Missouri Personal Property Lease or Rental Agreement of Equipment and Furniture with Option to Purchase and Own — Lease or Rent to Own: 1. Residential Lease or Rent to Own Agreement: This type of agreement is specifically designed for residential properties, allowing tenants to choose a lease with an option to purchase or own the equipment and furniture in their rented space. It includes terms such as monthly rent, lease duration, and the purchase price if the tenant decides to exercise the option to buy. 2. Commercial Lease or Rent to Own Agreement: Tailored for commercial properties, this type of agreement allows business owners or individuals renting commercial spaces to lease or rent equipment and furniture with an option to purchase or own them. It encompasses details such as lease length, monthly rent, and the purchase price upon exercising the option to buy. 3. Equipment Lease or Rent to Own Agreement: This agreement focuses solely on leasing or renting equipment rather than an entire property. It is suitable for businesses or individuals who require specific equipment for a limited duration and wish to have the option to acquire ownership rights. The agreement covers key aspects such as lease period, monthly rent, and the purchase price if the lessee chooses to own the equipment. 4. Furniture Lease or Rent to Own Agreement: Designed specifically for furniture rental, this agreement allows individuals or businesses to rent furniture for a specified period while giving them the option to purchase or own the furniture at a later stage. It includes details about monthly rental payments, lease duration, and the purchase price should the renter decide to exercise the option to buy. In summary, the Missouri Personal Property Lease or Rental Agreement of Equipment and Furniture with Option to Purchase and Own — Lease or Rent to Own provides individuals and businesses in Missouri a flexible solution for accessing equipment and furniture while offering the possibility of ownership at the end of the lease term. The various types of agreements mentioned above cater to different needs, ensuring that tenants can find an agreement suitable to their specific requirements.
