PURPOSE: This rule clarifies the requirements for and the issuance of registration by the Department of Revenue in certain situations for motor vehicles or trailers which are the subjects of leases which contain a right to purchase clause.

1. (1) Under certain circumstances, the Department of Revenue will process an application for a Missouri registration which allows the applicant to obtain a Missouri certificate of registration and license plates for a motor vehicle or trailer when the applicant is not the title owner of the motor vehicle or trailer.

2. (2) Any person, firm, corporation or association which, as the result of entering into a lease agreement containing a right to purchase clause, is considered the owner of a motor vehicle or trailer, as that term is defined in section 301.010, RSMo, may make application for registration by submitting the following:

   1. (A) APPLICATION FOR MISSOURI TITLE AND LICENSE, DOR-108 (see 12 CSR 10-23.265), completed and signed;
   2. (B) A copy of the lease agreement containing a right to purchase clause that is signed by the lessor and the lessee;
   3. (C) All documents and fees required to obtain Missouri license plates; and
   4. (D) A fee equal to the title fee required pursuant to section 301.190, RSMo.
3. (3) The validated pink receipt from the application will serve as the applicant’s registration certificate.
4. (4) No more than one (1) application for registration under this rule may be approved at any given time for a motor vehicle or trailer.

AUTHORITY: sections 301.010 and 301.190, RSMo Supp. 1992.* Original rule filed April 16, 1993, effective Oct. 10, 1993.

*Original authority: 301.010, RSMo 1939, amended 1945, 1949, 1951, 1969, 1974, 1979, 1980, 1983, 1985, 1986, 1987, 1988, 1989, 1992; 301.190, RSMo 1939, amended 1947, 1965, 1981, 1983, 1984, 1985, 1986, 1987, 1988, 1989, 1990, 1992. 12 CSR 10-23