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West Virginia Code Chapter 46B. Regulation of the Rental of Consumer Goods Under Rent-To-Own Agreements § 46B-3-5. Consumer's right to ownership of the goods

Current as of January 01, 2024 | Updated by Findlaw Staff

When the consumer has paid all periodic payments required by a rent-to-own transaction together with any other charges authorized by law which have been lawfully imposed in the transaction, he or she shall have exclusive ownership of the goods: Provided, That the consumer, after the initial payment, may obtain ownership before the scheduled end of the rent-to-own transaction by paying:

(1) A portion of the periodic payments, which have not yet become payable, subject to any limitation provided by this chapter;

(2) All periodic payments and other charges authorized by law which have already become due and which may be lawfully imposed in the transaction; and

(3) The amount of any documentary or other fee charged by a governmental entity to transfer ownership or proof of ownership.

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Cite this article: FindLaw.com - West Virginia Code Chapter 46B. Regulation of the Rental of Consumer Goods Under Rent-To-Own Agreements § 46B-3-5. Consumer's right to ownership of the goods - last updated January 01, 2024 | https://codes.findlaw.com/wv/chapter-46b-regulation-of-the-rental-of-consumer-goods-under-rent-to-own-agreements/wv-code-sect-46b-3-5/

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