At any time after the first periodic payment is made, the lessee may acquire ownership of the property by tendering 55 percent of the difference between the total of scheduled payments and the total amount paid on the account.
Minn. Stat. § 325F.93
EARLY PURCHASE OPTION.
Applied in 2 court decisions — leading case Miller v. Colortyme, Inc. (1994)
Most recently applied in Miller v. Colortyme, Inc. (June 1994)
1990 c 527 s 10
Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.