§ 42-240 Definitions
§ 42-241 Written agreement. Information which must be disclosed
§ 42-242 Prohibited provisions
§ 42-243 Lessor prohibited from imposing certain charges upon lessee. Permitted charges
§ 42-244 Prohibited provisions void. Agreement not otherwise affected
§ 42-245 Liability damage waiver. Fee. Notice. Prohibitions and requirements
§ 42-246 Reinstatement of terminated agreement
§ 42-247 Written notice of assignment of lessor’s right to receive payment under the agreement
§ 42-248 Limit on total rental payments. Lessee to acquire ownership when fifty per cent of all rental payments made by lessee equals cash price of rented property. Termination of agreement
§ 42-249 Lessee’s early purchase option
§ 42-250 Advertisement of rent-to-own agreements. Disclosure
§ 42-251 Violations. Lessee’s right to minimum recovery, set-off and counterclaim. Attorney’s fees and court costs
§ 42-252 Lessor’s obligations
§ 42-253 Action must be brought within three years
contract signature

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Terms Used In Connecticut General Statutes > Chapter 743i - Consumer Rent-to-Own Agreements

  • Contract: A legal written agreement that becomes binding when signed.
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Personal property: All property that is not real property.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.