Texas Finance Code 342.009 – Return of Property in Sale-Leaseback Transaction
Current as of: 2024 | Check for updates
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Terms Used In Texas Finance Code 342.009
- Property: means real and personal property. See Texas Government Code 311.005
The seller in a sale-leaseback agreement may terminate the agreement at any time by returning the property to the buyer in substantially the same condition as when the agreement was entered, less reasonable wear. On return of the property the seller is liable only for rental and other allowed charges under the agreement accruing before the date of the return.