§ 1667 — Definitions

For purposes of this part— (1) of this title. Such term does not include a lease for agricultural, business, or commercial purposes, or to a government or governmental agency or instrumentality, or to an organization. (2) The term “lessee” means a natural person who leases or is offered a consumer lease. (3) The term “lessor” means a person who is regularly engaged in leasing, offering to lease, or arranging to lease under a consumer lease. (4) The term “personal property” means any property which is not real property under the laws of the State where situated at the time offered or otherwise made available for lease. (5) The terms “security” and “security interest” mean any interest in property which secures payment or performance of an obligation.