Consumer Rental Purchase Transactions, commonly referred to as Rent-to-Own, are governed by the Consumer Rental Purchase Agreement Act.
Lessors entering into consumer rental purchase agreements are required to make certain disclosures to consumers before sale, in the contract, and in advertisements. Lessors are required to provide itemized written receipts upon request. The Act also prohibits certain practices and establishes the consumer’s rights under the Act.
Model Disclosure Form
The Department has created a model disclosure form that companies offering consumer rental purchase agreements may use. The model form complies with all of the requirements of the Act.
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