Ind. Code § 24-7-1-0.1 Application of article
Sec. 0.1. The addition of this article by P.L.254-1987 does not apply to rental purchase agreements consummated before September 1, 1987.
As added by P.L.220-2011, SEC.399.
Ind. Code ch. 24-7-1
Ind. Code ch. 24-7-1
in effectInd. Code § 24-7-1-1 Rental purchase agreements affected; lessee's residence
Sec. 1. (a) This article applies to a rental purchase agreement if:
(1) the rental purchase agreement is entered into in Indiana;
(2) the lessee is a resident of Indiana at the time a lessor offering the rental purchase agreement solicits the rental purchase agreement or a modification of the rental purchase agreement by any mode of communication; or
(3) the lessee is a resident of Indiana at the time the lessor offering a rental purchase agreement receives either a signed writing evidencing the creation or modification of a rental purchase agreement or a written offer from the lessee to enter into or modify a rental purchase agreement.
(b) For the purposes of this article, the residence of a lessee is the address given by the lessee as the lessee's residence in any writing signed by the lessee in connection with a rental purchase agreement. Until the lessee notifies the lessor of a new or different residence address, the given residence address is presumed to be unchanged.
As added by P.L.254-1987, SEC.1.
Ind. Code § 24-7-1-2 Inapplicable law
Sec. 2. Except as provided in this article, the provisions of:
(1) the Consumer Credit Protection Act (15 U.S.C. 1601 et seq.) and regulations adopted under that act;
(2) IC 37-2;
(3) IC 26-1-1-201(37);
(4) IC 26-1-2 concerning the creation of a security interest in property;
(5) IC 26-1-9.1; and
(6) rules adopted under the statutes described in subdivisions (2) through (5);
do not apply to a rental purchase agreement.
As added by P.L.254-1987, SEC.1. Amended by P.L.57-2000, SEC.10; P.L.159-2017, SEC.20; P.L.115-2026, SEC.35.
Ind. Code § 24-7-1-3 Waiver of statutory protections; settlement
Sec. 3. Except as provided in this article, a lessor or lessee may not waive or agree to forego rights or benefits under this article. However, this article does not prohibit the settlement of a claim under this article.
As added by P.L.254-1987, SEC.1.
Ind. Code § 24-7-1-4 Legal and equitable principles applicable
Sec. 4. Except as provided in this article, this article does not limit the application of the principles of law and equity to a rental purchase agreement.
As added by P.L.254-1987, SEC.1.
Ind. Code § 24-7-1-5 Prohibited agreements; disguised consumer credit sales
Sec. 5. (a) Rental purchase agreements involving:
(1) motor vehicles (as defined in IC 9-13-2-105(a)), including:
(A) component parts (as defined in IC 9-13-2-34);
(B) major component parts (as defined in IC 9-13-2-95); and
(C) any other parts (as defined in IC 9-13-2-122) other than:
(i) wheels;
(ii) rims; and
(iii) tires;
necessary to operate a motor vehicle;
(2) other titled property; or
(3) live domestic animals (as defined in IC 34-30-30-1);
are prohibited under this article.
(b) If the director determines that a transaction described in IC 24-7-2-9(a) involves the application of subterfuge for the purpose of avoiding the application of the Uniform Consumer Credit Code (IC 37-2), the director may treat the transaction as a disguised consumer credit sale that is subject to IC 37-2. A determination by the director under this subsection:
(1) must be in writing;
(2) shall be delivered to all parties in the transaction; and
(3) is subject to IC 4-21.5-3.
As added by P.L.138-1990, SEC.3. Amended by P.L.2-1991, SEC.85; P.L.63-2001, SEC.5 and P.L.134-2001, SEC.5; P.L.213-2007, SEC.28; P.L.217-2007, SEC.27; P.L.176-2019, SEC.28; P.L.115-2026, SEC.36.
Ind. Code § 24-7-1-6 Inapplicability to rental of musical instruments through programs at schools
Sec. 6. This article does not apply to the rental of a musical instrument through a program offered at an elementary or a secondary school with the approval of the school.
As added by P.L.90-2008, SEC.19. Amended by P.L.35-2010, SEC.89.
Ind. Code § 24-7-1-7 Inapplicability to rental purchase of a dwelling
Sec. 7. This article does not apply to the rental purchase of a dwelling (as defined in IC 37-1-2-15), regardless of whether the dwelling is assessed as real or personal property for property tax purposes.
As added by P.L.89-2011, SEC.23. Amended by P.L.115-2026, SEC.37.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/24Fetched: 10/17/2026