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.
Harris Texas Personal Property Lease or Rental Agreement of Equipment and Furniture with Option to Purchase and Own — Lease or Rent to Own is a legal contract that allows individuals or businesses located in Harris County, Texas, to lease or rent various types of equipment and furniture with an option to buy and own them in the future. This agreement provides flexibility and convenience to those seeking temporary use of equipment and furniture without committing to an immediate purchase. The agreement typically includes detailed terms and conditions that outline the responsibilities and rights of both the lessor (the owner or supplier) and the lessee (the individual or business renting the items). It covers important aspects such as lease duration, rental payments, security deposit, maintenance and repair responsibilities, insurance coverage, termination clauses, and the option to purchase the leased items at the end of the lease term. Different types of Harris Texas Personal Property Lease or Rental Agreement of Equipment and Furniture with Option to Purchase and Own — Lease or Rent to Own may vary depending on the specific equipment and furniture being leased: 1. Office Furniture Lease or Rent to Own Agreement: This type of agreement would cover the leasing of office furniture such as desks, chairs, filing cabinets, and conference tables. It caters specifically to businesses setting up offices or undergoing renovations. 2. Industrial Equipment Lease or Rent to Own Agreement: This agreement encompasses leasing industrial machinery or equipment required for manufacturing, construction, or other industrial purposes. It may include items like forklifts, generators, compressors, or specialized tools. 3. Household Appliance Lease or Rent to Own Agreement: Designed for individuals or families in need of short-term access to household appliances like refrigerators, washing machines, televisions, or furniture sets. This agreement ensures convenience and affordability for those who have temporary housing needs. 4. Technology Equipment Lease or Rent to Own Agreement: This agreement applies to the leasing of technology equipment such as computers, laptops, printers, or audiovisual equipment. It caters to businesses or individuals looking to stay up-to-date with the latest technology without bearing the high costs of purchasing. By offering the option to purchase and own the leased items at the end of the agreement, Harris Texas Personal Property Lease or Rental Agreement of Equipment and Furniture with Option to Purchase and Own — Lease or Rent to Own grants lessees the opportunity to evaluate the suitability and functionality of the equipment or furniture before making a long-term commitment. Overall, this agreement provides a practical and effective solution for accessing essential items without the immediate financial burden of purchasing, making the Harris Texas Personal Property Lease or Rental Agreement of Equipment and Furniture with Option to Purchase and Own — Lease or Rent to Own a valuable tool for individuals, businesses, and homeowners in Harris County, Texas.
