Nonsegregated Disclosures
Definition of 'Nonsegregated Disclosures 'Information that legally must be presented anywhere in a lease agreement. Nonsegregated disclosures are required by the Federal Reserve Board Regulation M. The lease agreement must also contain segregated disclosures, which are placed in a distinct and defined section of the contract. These are intended to protect consumers by clearly providing them with all the information they need to understand the contracts they are entering. |
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Investopedia explains 'Nonsegregated Disclosures 'Nonsegregated disclosures include information about government-required fees and taxes; whether the lessor or lessee will be responsible for insurance and how much it will cost; the leased item's estimated residual value; standards of excess wear and tear; lessor and lessee maintenance responsibilities; early termination and default; warranties; lessor's security interest; late payment fees; and whether there is a purchase option and what the purchase option price is. |
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