Content of Segregated Disclosures in Consumer Leasing Act

D

Sure, I can provide you with a detailed explanation of the answer choices for the question related to segregated disclosures in Consumer Leasing Act (CLA).

The Consumer Leasing Act (CLA) is a federal law that requires lessors to provide certain disclosures to consumers who lease personal property, including vehicles, appliances, and furniture. One of the key requirements of the CLA is the provision of segregated disclosures, which must be presented to the lessee in a clear and conspicuous manner.

The question asks for the answer choice that is NOT required to be included in the segregated disclosures of the CLA. Let's review each answer choice:

A. Amount due at lease signing or delivery, itemized by type and amount, including: Refundable security deposit Advance monthly or other periodic payment Capitalized cost reduction An itemization of how the amount due will be paid, by type and amount (only required in a motor vehicle lease), using the model form.

This answer choice is required to be included in the segregated disclosures of the CLA. Lessors must provide a breakdown of the amounts due at lease signing or delivery, including the refundable security deposit, any advance monthly or other periodic payments, and the capitalized cost reduction. If it is a motor vehicle lease, the lessor must also provide an itemization of how the amount due will be paid, by type and amount, using the model form.

B. Number, amount, and due date of payments scheduled and the total amount of periodic payments.

This answer choice is also required to be included in the segregated disclosures of the CLA. Lessors must provide the number, amount, and due date of payments scheduled and the total amount of periodic payments. This information helps the lessee understand their payment schedule and the total cost of the lease.

C. In an open-end lease, the descriptive statement "You will owe an additional amount if the actual value of the vehicle is less than the residual value."

This answer choice is also required to be included in the segregated disclosures of the CLA, but only for open-end leases. An open-end lease is a type of lease where the lessee bears the risk of the vehicle's residual value at the end of the lease. The lessor must provide a descriptive statement that informs the lessee that they will owe an additional amount if the actual value of the vehicle is less than the residual value.

D. If there are multiple items of property, the property description may be separate.

This answer choice is the correct answer to the question. It is NOT required to be included in the segregated disclosures of the CLA. If there are multiple items of property being leased, the lessor may provide a separate property description, but it is not required to be included in the segregated disclosures.

In conclusion, the correct answer to the question is D. If there are multiple items of property, the property description may be separate, as it is not required to be included in the segregated disclosures of the CLA. The other answer choices are all required to be included in the segregated disclosures of the CLA.