Texas Business and Commerce Code 94.005 – Required Disclosures
Current as of: 2024 | Check for updates
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Terms Used In Texas Business and Commerce Code 94.005
- 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
A lease agreement that includes an excess wear and use waiver must disclose:
(1) the total charge for the excess wear and use waiver; and
(2) any exclusions or limitations on the amount of excess wear and use that may be waived under the excess wear and use waiver.