West Virginia Code 46A-2-111 – Consumer leases; information to be furnished
With respect to a consumer lease the lessor shall give to the lessee the following information:
Terms Used In West Virginia Code 46A-2-111
- 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
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(1) Brief description or identification of the goods;
(2) Amount of any payment required at the inception of the lease;
(3) Amount paid or payable for official fees, registration, title privilege, certificate of title or license fees or taxes;
(4) Amount of other charges not included in the periodic payment and a brief description of the charges;
(5) Brief description of insurance to be provided or paid for by the lessor, including the types and amounts of the coverages;
(6) Number of periodic payments, the amount of each payment, the due date of the first payment, the due dates of subsequent payments or interval between payments, and the total amount payable by the lessee;
(7) Statement of the conditions under which the lessee may terminate the lease prior to the end of the term; and
(8) Statement of the liabilities the lease imposes upon the lessee at the end of the term.