P.R. Laws tit. 10, § 2418
In the event the leased chattel is turned in, the lessor shall be bound to dispose of it, meeting the requirements in § 2424 of this title entitled “Procedures to sell”. In this case, the lessee’s responsibility shall consist in answering for one of the sums provided herein, as the case may be.
(1) The difference between the residual value provided in the lease contract and the cash value, if the leased chattel is sold. If the cash value exceeds the residual value established in the contract, the lessor shall hand over said excess to the lessee.
(2) The difference between the residual value and the present value of the new lease, if the chattel is [relet].
If after the terms provided in § 2424 of this title, entitled “Procedures to sell” expire, and the chattel has not been purchased or [relet], the lessee shall give a credit to the lessor of the Residual Value established in the contract plus any other amount pending thereunder. Once the payment is made, the lessor shall transfer the chattel’s ownership to the lessee.
History —Aug. 13, 1994, No. 76, § 20, eff. 60 days after Aug. 13, 1994.