50-682. Lease-purchase agreements; scope; applicability of other laws.

154 words·~1 min read·/ks/chapter-50/50-682

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Lease-purchase agreements which comply with this act are not governed by the laws relating to:

(1)Door-to-door sales as defined in K.S.A. 50-640 , and amendments thereto;

(2)a consumer credit transaction as defined in K.S.A. 16a-1-301 , and amendments thereto;

(3)a security interest as defined in K.S.A. 2025 Supp. 84-1-201 (b)(35), and amendments thereto; or

(4)an instrument as defined in K.S.A. 16-207 , and amendments thereto.

(b)This act does not apply to the following:

(1)Lease-purchase agreements primarily for business, commercial or agricultural purposes, or those made with governmental agencies or instrumentalities or with organizations;

(2)a lease of a safe deposit box;

(3)a lease or bailment of personal property which is incidental to the lease of real property, and which provides that the consumer has no option to purchase the leased property; or

(4)a lease of an automobile.