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.
Miami-Dade Florida Personal Property Lease or Rental Agreement of Equipment and Furniture with Option to Purchase and Own — Lease or Rent to Own is a legal document that outlines the terms and conditions for leasing or renting equipment and furniture with the option to purchase and own the items in Miami-Dade County, Florida. This agreement is commonly used by individuals, businesses, or organizations seeking temporary use of equipment and furniture while also having the flexibility to buy and own them in the future. In Miami-Dade County, there are various types of Personal Property Lease or Rental Agreements of Equipment and Furniture with Option to Purchase and Own — Lease or Rent to Own, catering to different needs and circumstances. Some of these types may include: 1. Residential Lease or Rent to Own Agreement: This type of agreement is designed for individuals or families looking to furnish their homes or apartments temporarily with furniture and equipment. It allows them to lease or rent the items and grants them the option to purchase and own the items in the future. 2. Commercial Lease or Rent to Own Agreement: This agreement is geared towards businesses, companies, or organizations in Miami-Dade County seeking equipment and furniture for their office spaces, retail shops, or commercial facilities. It grants them the option to lease or rent the items, with the potential to buy and own them later. 3. Event or Party Rental Lease or Rent to Own Agreement: This type of agreement is suitable for individuals or event planners organizing parties, weddings, or other special occasions in Miami-Dade County. It allows them to lease or rent the necessary equipment and furniture for the event, with the choice to purchase and own them if desired. 4. Construction or Equipment Rental Lease or Rent to Own Agreement: This agreement is primarily used by contractors, builders, or construction companies in Miami-Dade County who require temporary use of specific equipment or furniture for their construction projects. It enables them to lease or rent the items while also providing the option to purchase and own them in the future. Regardless of the specific type of Miami-Dade Florida Personal Property Lease or Rental Agreement of Equipment and Furniture with Option to Purchase and Own — Lease or Rent to Own, it is essential for all parties involved to carefully review and understand the terms, including the lease duration, rental fees, option to purchase price, maintenance responsibilities, and any other conditions outlined in the agreement. Seeking legal advice is recommended to ensure compliance with Florida state laws and to protect the rights and interests of both the lessor and lessee.
