Sec. 342.009. RETURN OF PROPERTY IN SALE-LEASEBACK TRANSACTION. 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.
Added by Acts 2001, 77th Leg., ch. 1235, Sec. 13, eff. Sept. 1, 2001.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Subchapter A. General Provisions; Applicability of Chapter
Section 342.002. Interest Computation Methods
Section 342.003. Purchase From Mortgagee
Section 342.005. Applicability of Chapter
Section 342.006. Exemption for Certain Secondary Mortgage Loans
Section 342.007. Deferred Presentment Transaction
Section 342.008. Attempt to Evade Law
Section 342.009. Return of Property in Sale-Leaseback Transaction