§1667a Consumer Lease Disclosures

Summary

Before a lease is signed, the owner who is leasing something must give the renter a dated, written paper that names both people and clearly lists the key facts about the lease. That paper must say what is being leased; how much the renter must pay up front; any official fees, title, registration, license fees, or taxes; other charges not in the regular payments and whether the renter must pay any difference between expected and actual value at the end; what the renter might owe at the end and whether they can buy the item (and for what price and when); any warranties and who must service or maintain the item; insurance the owner provides or the renter must have, with types, amounts, and costs; any security interest the owner keeps and what it covers; the number, amount, due dates, and total of periodic payments; if the renter may owe the expected value at lease end, the item’s fair market value at the start, the total cost at expiration, and the difference; and the rules and fees for ending the lease early or for late or missed payments.