Nevada Revised Statutes 597.060 – Lease agreement: Prohibited provisions
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A lease agreement with an option to purchase may not contain:
Terms Used In Nevada Revised Statutes 597.060
- 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
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
1. A confession of judgment.
2. A negotiable instrument.
3. A security interest or any other claim to an interest in property other than the property delivered by the lessor pursuant to the agreement.
4. An assignment of wages.
5. A waiver by the customer of any claims or defenses.
6. A provision authorizing the lessor, or any other person acting on his or her behalf, to commit any breach of the peace, in order to repossess the leased property.