DelawareSB 74153rd General Assembly (2024–2026)SenateWALLET

AN ACT TO AMEND CHAPTER 76, TITLE 6 OF THE DELAWARE CODE RELATING TO THE DELAWARE LEASE-PURCHASE AGREEMENT ACT.

Sponsored By: Spiros Mantzavinos (Democratic)

Signed by Governor

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 3 benefits, 0 costs, 0 mixed.

Clear lease-purchase price labels in store and online

Every lessor‑owned item on display must show three numbers in Arabic numerals: the cash price, each lease payment, and the total payments to own. If you can complete the lease online or remotely, the seller can show these numbers electronically, clearly, before the other required disclosures. If the item comes from a third party, the seller must still give the same electronic item disclosure before other disclosures. Lease‑purchase property means the seller owns the item when it is shown and offered.

Stronger ad rules for lease-purchase deals

Ads cannot say a specific item is available at set terms unless the seller usually offers it that way. If an ad shows a payment or mentions ownership, it must also say it is a lease‑purchase deal, the total payments to own, and that you own it only after paying that total or by allowed prepayment. The law defines what counts as an advertisement, covering messages in any medium. Media owners and their staff are not liable when they only host ads.

Who and what lease-purchase covers

The law explains who and what these deals cover. A lease‑purchase agreement is for personal or household use, starts with a term of 4 months or less, renews with each payment, does not lock you in past the first term, and lets you become the owner. Cash price means the price for a cash sale on the contract date. Consummation is when you become legally bound by the lease‑purchase. A lessee is a natural person using the item for home or family use. A lessor regularly offers these leases and is named to receive payments.

Sponsors & Cosponsors

Sponsor

Spiros Mantzavinos
Democratic • Senate

Cosponsors

Frank Burns
Democratic • House
William Bush
Democratic • House
John "Jack" Walsh
Democratic • Senate

Roll Call Votes

All Roll Calls

Yes: 52 • No: 0

House vote • 5/6/2025

Passed (SM required)

Yes: 32 • No: 0

Senate vote • 4/9/2025