In all financial lease contracts, the lessor shall be bound to grant to the lessee the option to acquire the leased chattel when the lease term expires. In cases of open financial leases, the price shall not be greater than the residual, together with any other amount owed.\nIn operative and closed lease contracts, the lessor is not bound to execute a purchase option contract, provided he/she records it in the original lease contract.\nHistory —Aug. 13, 1994, No. 76, § 15, eff. 60 days after Aug. 13, 1994.
Puerto Rico Legal Code