Residual Value Law and Legal Definition

According to 15 USCS Appx 12 CFR § 213.2 (n), [Title 15. Commerce and Trade; Chapter 41. Consumer Credit Protection; Consumer Leasing. (Regulation M)] the term residual value means “the value of the leased property at the end of the lease term, as estimated or assigned at consummation by the lessor, used in calculating the base periodic payment.”