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.
Wake North Carolina Personal Property Lease or Rental Agreement of Equipment and Furniture with Option to Purchase and Own — Lease or Rent to Own A Wake North Carolina 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 document that outlines the terms and conditions for leasing or renting equipment and furniture in Wake County, North Carolina. This agreement provides individuals or businesses with the option to eventually purchase and own the leased items. The Wake North Carolina Personal Property Lease or Rental Agreement of Equipment and Furniture with Option to Purchase and Own — Lease or Rent to Own covers various types of equipment and furniture, catering to different requirements and preferences. Some common types of leases or rentals include: 1. Office Furniture and Equipment Lease or Rent to Own: This type of lease agreement is suitable for individuals or businesses looking to furnish their office spaces with desks, chairs, printers, copiers, and other necessary equipment. It allows for a flexible payment plan and the option to buy and own the furniture and equipment at the end of the lease term. 2. Home Appliance Lease or Rent to Own: Perfect for individuals or families who prefer leasing appliances like refrigerators, washing machines, televisions, or air conditioners instead of purchasing them outright. This agreement enables them to make monthly payments towards the lease and eventually acquire ownership after a predetermined period. 3. Construction Equipment Lease or Rent to Own: Designed for contractors or construction companies requiring heavy machinery and equipment such as excavators, bulldozers, or cranes. This type of agreement allows for easy access to expensive equipment without the need for a significant upfront investment. Upon completion of the lease term, the lessee has the opportunity to buy and become the owner of the equipment. 4. Fitness Equipment Lease or Rent to Own: Targeting fitness centers or individuals interested in using high-quality gym equipment. With this agreement, lessees have the flexibility to try out various exercise machines and accessories before deciding to purchase and own them. Regardless of the specific type of Wake North Carolina Personal Property Lease or Rental Agreement of Equipment and Furniture with Option to Purchase and Own — Lease or Rent to Own, it is crucial to carefully review and understand all the terms and conditions stated within the agreement. Seek legal advice if necessary to ensure compliance with local laws and regulations. Key Keywords: Wake North Carolina, Personal Property Lease, Rental Agreement, Equipment, Furniture, Option to Purchase and Own, Lease, Rent to Own, Office Furniture, Office Equipment, Home Appliances, Construction Equipment, Fitness Equipment.
