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.
A Contra Costa California Personal Property Lease or Rental Agreement of Consumer Electronics, Home Appliances, and Accessories with Option to Purchase and Own — Lease or Rent to Own is a legal contract between a lessor (owner) and a lessee (tenant) that outlines the terms and conditions for leasing or renting consumer electronics, home appliances, and accessories with the option to eventually purchase and own them. This type of agreement provides the flexibility of enjoying the use of desired products while gradually working towards ownership. The following are different types of Contra Costa California Personal Property Lease or Rental Agreement of Consumer Electronics, Home Appliances, and Accessories with Option to Purchase and Own — Lease or Rent to Own: 1. Consumer Electronics Rental Agreement: This agreement specifically pertains to leasing consumer electronics such as televisions, computers, smartphones, gaming consoles, and other electronic devices. 2. Home Appliance Rental Agreement: This type of agreement focuses on renting home appliances like refrigerators, dishwashers, washers, dryers, ovens, and other essential household machines. 3. Accessory Rental Agreement: This agreement covers the leasing of various accessories that complement consumer electronics or home appliances. Examples include speakers, headphones, remote controls, cables, and more. 4. Lease-to-Own Agreement: This specific type of agreement allows the lessee to gradually accrue equity in the rented items through monthly payments. The lessee has the option to purchase the leased items at a pre-determined price at the end of the agreed-upon lease term. 5. Rent-to-Own Agreement: Similar to the lease-to-own agreement, this type of agreement provides the lessee with the option to eventually buy the rented items. The lessee can choose to exercise the purchase option after a certain period of renting, typically through regular rental payments. Keywords: Contra Costa California, Personal Property Lease, Rental Agreement, Consumer Electronics, Home Appliances, Accessories, Option to Purchase, Lease, Rent to Own, Consumer Electronics Rental Agreement, Home Appliance Rental Agreement, Accessory Rental Agreement, Lease-to-Own Agreement, Rent-to-Own Agreement.
