Indiana § 24-7-5-10 Liability of lessee for replacement cost of leased property; fair market
value

Indiana Statutes

§ 24-7-5-10 — Liability of lessee for replacement cost of leased property; fair market value

Indiana·Art. 7 RENTAL PURCHASE AGREEMENTS·Ch. 5 Additional Charges

(a)If a lessee is liable to a lessor for the replacement cost of property leased under a rental purchase agreement, the lessor may not charge the lessee more than the fair market value for the property.

(b)For purposes of subsection (a), fair market value shall be determined by the lessor in the same manner, and using the same method, that would apply if the lessee were exercising an early purchase option under the rental purchase agreement.

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(a) If a lessee is liable to a lessor for the
replacement cost of property leased under a rental purchase agreement,
the lessor may not charge the lessee more than the fair market value for
the property.
(b) For purposes of subsection (a), fair market value shall be
determined by the lessor in the same manner, and using the same
method, that would apply if the lessee were exercising an early
purchase option under the rental purchase agreement.

Indiana § 24-7-5-10 (Liability of lessee for replacement cost of leased property; fair market value) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.