Bill > A2495

This bill allows a motor vehicle lease to be terminated upon the death of the lessee and prohibits a dealer or lessor from imposing any fee for the early termination of the lease in the event of the lessee's death. The bill also prohibits a lease from requiring the decedent's surviving spouse, family member, guardian, or estate administrator or executor to purchase the leased vehicle, buy out the remainder of the lease, or continue leasing the vehicle under the original terms. The surviving spouse, family member, guardian, or estate representative must provide a death certificate or other satisfactory proof to the dealer or lessor within 60 days of the lessee's death in order to have the lease terminated. Additionally, the bill requires dealers and lessors to provide written disclosure in the lease contract that the lease may be terminated early in the event of the lessee's death, and violators are subject to a $500 penalty.

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