Wisconsin Statutes 429.204 – Gap amount; notice
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Wisconsin Statutes 429.204
- 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
If a consumer lease provides that the lessee is responsible for any or all of the gap amount, the consumer lease shall conspicuously disclose this fact, using the term “gap amount”. The acceptance of a consumer lease may not be conditioned upon the lessee’s agreement to gap insurance or a gap waiver. Section 218.0148 governs gap waivers.