Oregon Statutes 646A.122 – Applicability of ORS 646A.120 to 646A.134
Current as of: 2023 | Check for updates
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(1) Lease-purchase agreements that comply with ORS § 646A.120 to 646A.134 are not governed by laws relating to:
Terms Used In Oregon Statutes 646A.122
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(a) A security interest under ORS Chapter 79.
(b) A retail installment contract under ORS § 83.010 to 83.190.
(2) ORS § 646A.120 to 646A.134 do not apply to the following:
(a) Lease-purchase agreements primarily for business, commercial or agricultural purposes, or those made with governmental agencies or instrumentalities or with organizations;
(b) A lease of a safe deposit box;
(c) 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
(d) A lease of a motor vehicle. [Formerly 646.247]