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Ohio Revised Code Chapter 1351 - Lease-purchase Agreements
Section 1351.01 - Lease-purchase Agreement Definitions.
As used in this chapter: (A) "Advertisement" means any written, visual, or oral communication made to a lessee or prospective lessee by means of...
Section 1351.02 - Disclosures Required In Connection With Lease-purchase Agreement.
(A) A lessor shall disclose all of the following in a clear and conspicuous manner: (1) A brief description of the leased property, sufficient...
Section 1351.03 - Provisions Prohibited In Lease-purchase Agreement.
(A) A lease-purchase agreement shall not contain a provision that requires a lessee to do any of the following: (1) Execute a warrant of...
Section 1351.04 - Terms That May Not Be Required.
A lessor shall not require any of the following from a lessee: (A) The purchase of insurance from the lessor for property that is...
Section 1351.05 - Reinstatement Of Agreement After Default.
(A) A lessee who fails to make timely lease payments has the right to reinstate the original lease-purchase agreement without losing any rights or...
Section 1351.06 - Acquiring Ownership When 50% Of Payments Equals Cash Price.
(A) No lessor shall offer a lease-purchase agreement in which fifty per cent of all lease payments necessary to acquire ownership of the leased...
Section 1351.07 - Advertisements - Mandatory Information To Be Supplied.
(A) No advertisement for a lease-purchase agreement shall state that a lease of any specific property is available at specific amounts or on specific...
Section 1351.08 - Liability Of Lessor For Noncompliance.
(A) A lessor who fails to comply with the requirements of this chapter with respect to a lease-purchase agreement is liable to the lessee...
Section 1351.09 - Limits On Lessor's Liability.
(A) A lessor is not liable under section 1351.08 of the Revised Code for any violation of the requirements of this chapter if, within...
Last modified: October 10, 2016