Is rent-to-own legal?

Rent-to-own is essentially a financial lease. From the form, the law is allowed to financial leasing, but strictly speaking, to rent to buy is currently not fully protected by law, because it has no legal basis. But from the leasing aspect alone, as long as the leasing parties have the qualifications of the subject, signed the contract, it is not illegal. For example, if a consumer transfers the right of use to ownership, that is, the consumer pays the full amount but the car is not in his name, then it is easy to dispute. Therefore, consumers who need to designate the transfer of ownership at the end of the contract period need to make a clear note on the contract with the leasing company. Rent to buy credit risk has become the industry's biggest hidden danger, which mainly lies in the separation of property rights and the right to use, as well as the division of responsibility for accidents and bear. For consumers, it is mainly the cost and use of the problem, but also pay attention to the expiration of the contract to pay the full amount of the leasing company does not handle the risk of transfer.

Article 543 of the Chinese People's *** and National Code, the parties can change the contract by consensus. Article 544 of the Chinese People's *** and National Code: If the parties' agreement on the content of the change in the contract is unclear, it is presumed that it has not been changed. Article 555 of the Chinese People's *** and Nationality Code One of the parties may, with the consent of the other party, assign its rights and obligations under the contract to a third party together. Article 556 of the Chinese People's *** and National Code If the rights and obligations of a contract are assigned together, the relevant provisions on the assignment of claims and transfer of debts shall apply.