Delaware § 7612 Receipts; acknowledgement of payment in full for ownership

Delaware Statutes

§ 7612 — Receipts; acknowledgement of payment in full for ownership

Delaware·Title 6·Ch. 76 DELAWARE LEASE-PURCHASE AGREEMENT ACT

(a)If a lessee so requests, the lessor must give or forward to the lessee a receipt for any payment made in cash. The lessor must also furnish, upon the lessee’s request, an accounting of all charges, payments and their dates in connection with a lease-purchase agreement. A charge of $5.00 may be imposed upon the lessee by the lessor for the second and each subsequent accounting request by the lessee in a 12-month period.

(b)After all lease payments necessary to acquire ownership have been made by a lessee or the lessee has exercised an early purchase option pursuant to § 7603(a)(8) of this title, and upon demand by the lessee, the lessor shall deliver, or mail to the lessee’s last known address, such 1 or more good and sufficient instruments as shall be necessary to acknowledge the les

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(a) If a lessee so requests, the lessor must give or forward to the lessee a receipt for any payment made in cash. The lessor must also furnish, upon the lessee’s request, an accounting of all charges, payments and their dates in connection with a lease-purchase agreement. A charge of $5.00 may be imposed upon the lessee by the lessor for the second and each subsequent accounting request by the lessee in a 12-month period.

(b) After all lease payments necessary to acquire ownership have been made by a lessee or the lessee has exercised an early purchase option pursuant to § 7603(a)(8) of this title, and upon demand by the lessee, the lessor shall deliver, or mail to the lessee’s last known address, such 1 or more good and sufficient instruments as shall be necessary to acknowledge the lessee’s full ownership in the property to which the lessee acquired ownership pursuant to the lease-purchase agreement.

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