District Of Columbia § 42-3671.04 - Disclosures.
Full text of District Of Columbia D.C. Code § 42-3671.04 — Disclosures., with citation guidance and answers to common questions.
§ 42-3671.04. Disclosures.
42-3671.04For each lease-purchase agreement, the lessor shall disclose in the agreement the following items, as applicable:
The number, amount, and timing of all lease payments necessary to acquire ownership of the property;
A statement that the consumer will not own the property until the consumer has made the total payment required to purchase under the lease-purchase agreement;
A statement that the consumer is responsible for the fair market value of the property if, and as of the time, it is lost, stolen, damaged, or destroyed;
A brief description of the leased property, sufficient to identify the property to the consumer and the lessor, including an identification number, if applicable, and a statement indicating whether the property is new or used; provided, that a statement that indicates new property is used shall not be a violation of this chapter;
A brief description of any damages to the leased property;
The cash price of the property; provided, that if the lease-purchase agreement involves a lease of items as a set, a statement of the aggregate cash price of all items shall satisfy this requirement;
The total of initial payments paid or required at or before consummation or delivery of the property, whichever is later;
A statement that the total of lease payments does not include other charges, such as taxes, late payment fees, default fees, processing fees, pickup fees, fees for optional services or products, or reinstatement fees, which fees shall be separately disclosed in the contract;
A statement clearly summarizing the terms of the consumer’s option to purchase, including a statement that the consumer has the right to exercise an early purchase option and the price, formula, or method for determining the price at which the property may be so purchased;
A statement that the lessor is responsible for maintaining or servicing the property while it is being leased, together with a description of that responsibility, and a statement that if any part of a manufacturer’s express warranty covers the lease property at the time the consumer acquires ownership of the property, it shall be transferred to the consumer, if allowed by the terms of the warranty;
The date of the transaction and the identities of the lessor and consumer;
A statement that the consumer may terminate the agreement without penalty by voluntarily surrendering or returning the property in good repair upon expiration of any lease term; and
Notice of the right to reinstate a lease-purchase agreement as provided in .
With respect to matters specifically governed by the Consumer Credit Protection Act, approved May 29, 1968 (88 Stat. 1511; 15 U.S.C. § 1601 et seq.), compliance with that Act shall satisfy the requirements of this section.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 42-3671.04
What does D.C. Code § 42-3671.04 cover?
Section 42-3671.04 ("Disclosures.") is part of the D.C. Code, the codified statutory law of District Of Columbia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite District Of Columbia § 42-3671.04?
A common citation format is "D.C. Code § 42-3671.04" (District Of Columbia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 42-3671.04 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in District Of Columbia.