Allows termination of motor vehicle lease upon lessee's death and prohibits fees for early termination.
This bill allows a motor vehicle lease to be terminated upon the death of the lessee and the return of the vehicle to the dealer or lessor. It prohibits a dealer or lessor from imposing or assessing any fee for the early termination of a vehicle lease in the event of a lessee’s death. However, the dealer or lessor would be permitted to assess a reasonable fee for a vehicle returned with excess wear, use, or mileage, if specified in the lease agreement.
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