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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>85614</law_id><section_number>46.2-640.1</section_number><catch_line>Vehicle leases that are not sales or security interests</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>46.2-1606</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="46.2">Motor Vehicles</unit><unit label="subtitle" level="2" order_by="1" identifier="II">Titling, Registration and Licensure</unit><unit label="chapter" level="3" order_by="1" identifier="6">Titling and Registration of Motor Vehicles</unit><unit label="article" level="4" order_by="1" identifier="2">Titling Vehicles</unit></structure><text>
						<section><p>Notwithstanding any other provision of <span class="dictionary">law</span>, in the case of <span class="dictionary">motor vehicles</span>, <span class="dictionary">trailers</span> or semi-<span class="dictionary">trailers</span>, a transaction does not create a sale or security interest merely because it provides that the rental price is permitted or required to be adjusted under the agreement either upward or downward by reference to the amount realized upon sale or other <span class="dictionary">disposition</span> of the <span class="dictionary">motor vehicle</span> or <span class="dictionary">trailer</span>.</p></section></text><history>1991, c. 536.</history><metadata></metadata></law>
