Delaware Code Title 6 Sec. 7612 – Receipts; acknowledgement of payment in full for ownership
(a) If a lessee so requests, the lessor must give or forward to the lessee a receipt for any payment made in cash. The lessor must also furnish, upon the lessee’s request, an accounting of all charges, payments and their dates in connection with a lease-purchase agreement. A charge of $5.00 may be imposed upon the lessee by the lessor for the second and each subsequent accounting request by the lessee in a 12-month period.
Terms Used In Delaware Code Title 6 Sec. 7612
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(b) After all lease payments necessary to acquire ownership have been made by a lessee or the lessee has exercised an early purchase option pursuant to § 7603(a)(8) of this title, and upon demand by the lessee, the lessor shall deliver, or mail to the lessee’s last known address, such 1 or more good and sufficient instruments as shall be necessary to acknowledge the lessee’s full ownership in the property to which the lessee acquired ownership pursuant to the lease-purchase agreement.