Michigan Laws 257.35c – “Off lease vehicle” defined
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 257.35c
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
“Off lease vehicle” means a motor vehicle leased for a term of more than 30 days that the lessee elects to purchase.