2013 Maryland Code
COMMERCIAL LAW
§ 12-1111 - Form for disclosures
§12-1111.
The following is an example of a form which shall be used to satisfy the disclosure requirements of §§ 12-1103(c) and 12-1104 of this subtitle:
“Rental-Purchase Agreement | ||
1. | Lessor(s): | Lessee(s): |
2. | Description of Rental Property: |
Item | Quantity | Identification | Condition |
New | |||
Cash Price: __________ | |||
3. | Total Initial Payment: | |
Rental Payment: | $_________ | |
4. | Rental Payments: | |
5. | Other Charges: | |
6. | Total Cost To Acquire Ownership: | |
7. | No Ownership Until Total Paid: | |
8. | Early Purchase Option: | |
(Describe formula or method here) | ||
9. | Maintenance: | |
10. | Warranty: | |
11. | Damages: | |
12. | Termination: | |
13. | Reinstatement: | |
1) You pay all past due rental charges and a reinstatement fee within 2 days (weekly renters) or 5 days (monthly renters) of your renewal date; or | ||
2) You return or voluntarily surrender the rental property within 2 days (weekly renters) or 5 days (monthly renters) of your renewal date. If you choose to reinstate the agreement after returning the rental property, you will have up to 21 days (or longer depending on how long you have rented the rental property) to pay all past due rental charges, a reinstatement fee and a reasonable redelivery fee if we deliver the rental property. | ||
I have read the above disclosures before signing this rental-purchase agreement. | ||
Lessee(s): | Date:__________ | |
.” |
§ 12-1111 - 1. Sample rental-purchase agreement
The Attorney General's Web site shall include the sample rental-purchase agreement in § 12-1111 of this subtitle.
Disclaimer: These codes may not be the most recent version. Maryland may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.