{"data":{"id":"us-md/md.-code-commercial-law-12-1111","jurisdiction":"us-md","citation":"Md. Code, Commercial Law § 12–1111","heading":"","body":"(a) The following is an example of a form which shall be used to satisfy the disclosure requirements of §§ 12–1103(c) and 12–1104(a) of this subtitle:\n“Rental–Purchase Agreement\n(1.) Lessor(s): Lessee(s):\nName ____________________________ Name ______________________________\nAddress __________________________ Address ____________________________\nTelepohon no. _____________________ Telephone no. ______________________\n(2.) Description of Rental Property:\nIdentification\nItem Quantity Number Condition ______________ _______________ __________________ New _________________\nUsed _________________ Cash Price: ___________________________\n(3.) Total Initial Payment\nRental Payment: $______________\nDelivery Charge: $______________\nTax $______________\nOther (specify): $______________\nTotal: $______________\n(4.) Rental Payments:\nTotal Weekly Rental Payment: _________________ (includes tax)\nTotal Monthly Rental Payment: _________________ (includes tax)\n(5.) Other Charges:\nIn Home Pick–up Fee: $___________\nReinstatement Fee: $___________\nOther (specify): $___________\n(6.) Total Cost To Acquire Ownership:\nIf you renew this rental agreement each week/month, for __________\nweeks/months, you will pay a total of $____________ to own the rental property.\nThis amount includes your total initial payment but does not include other\ncharges such as damage, reinstatement or pick–up fees for which you may be\nliable.\n(7.) Cost of Lease Services:\nThe cost of lease services is the difference between the final purchase price of\nthe rental property and the cash price of the rental property. The cost of lease\nservices for the rental property is $__________.\n(8.) No Ownership Until Total Paid:\nYou will not acquire ownership of the rental property until you pay the total\nrental payments necessary to acquire ownership, or unless you exercise an\nearly purchase option.\n(9.) Early Purchase Option:\nYou may purchase the rental property at any time after your first rental\npayment.\n(Describe formula or method here)\n(10.) Maintenance:\nWe (lessor) are responsible for maintaining the rental property in good working\ncondition while it is being rented. We will provide all necessary service, repair\nor replacement (specify if in home or in store) if you notify us by phone or mail\nthat service is needed. We will not be responsible for repairs done by anyone\nother than us.\n(11.) Warranty:\nIf allowed by the manufacturer, the manufacturer’s express warranty covering\nthe rental property rented under this agreement will be transferred to you if,\nand at the time, you acquire ownership of the rental property.\n(12.) Damages:\nYou (lessee) are entirely responsible for loss, damages, theft or destruction of\nthe rental property while it is in your possession. Your liability for such\ndamage will not exceed the early purchase option price of the rental property\nas of the date it is lost, stolen, damaged or destroyed.\n(13.) Termination:\nYou (lessee) may terminate this agreement without penalty at the end of any\nweekly or monthly term by returning the rental property to us in good\ncondition. You will be liable for any unpaid rental payments due upon the date\nof return.\n(14.) Reinstatement:\nIf you (lessee) fail to make a timely payment, you may reinstate the agreement\nwithout penalty, if:\n(1)) You pay all past due rental charges and a reinstatement fee within 2\ndays (weekly renters) or 5 days (monthly renters) of your renewal date;\nor\n(2)) You return or voluntarily surrender the rental property within 2 days\n(weekly renters) or 5 days (monthly renters) of your renewal date. If you\nchoose to reinstate the agreement after returning the rental property,\nyou will have up to 21 days (or longer depending on how long you have\nrented the rental property) to pay all past due rental charges, a\nreinstatement fee and a reasonable redelivery fee if we deliver the rental\nproperty. I have read the above disclosures before signing this rental–purchase agreement. Lessee(s): ______________________________ Date: ___________________\n______________________________ .”\n(b) The following is an example of a form which shall be used to satisfy the disclosure requirements of §§ 12–1103(c) and 12–1104(b) of this subtitle:\nSummary of Costs of Your Rental–Purchase Agreement\nCash Price Scheduled Final Purchase Cost of Lease\nPayments Price Services\nThe price of the The amount you The amount you The cost of your\nrental property if pay per will have paid rental–purchase.\npurchased in– week/month. after all payments\nstore at the time made all payments\nof consummation. as scheduled.\n$ __________ $ __________ $ __________ $ __________ Timing of Payments: Payment in the amount of $ ________________ is due on a (weekly/bi–weekly/semi–monthly/monthly) basis. Early Payment Option: You have the right to purchase the rental property prior to the date listed above for (enter formula). Termination: You have the right to terminate this rental–purchase agreement at the end of any term by surrendering the rental property to the lessor. The disclosures above are part of the terms and conditions of your rental–purchase agreement with (company name). Lessee(s): _________________________________ Date: ________________________\n_________________________________","path":["Article - Commercial Law"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gcl\u0026section=12-1111","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:33Z","sha256":"27a00a4559052e7a7bfd6d97743c3c829283b154ed4dbf068c756ba6d9453222","source_id":"us-md","stale":false,"prev":"us-md/md.-code-commercial-law-12-1110.1","next":"us-md/md.-code-commercial-law-12-1111.1"},"notice":"GroundRules: Original legal text. Not legal advice."}