Section 628: Transfer of ownership of goods

The transfer of ownership of the goods related to a hire-purchase contract shall be transferred to the hirer upon completion of the purchase according to the hire-purchase price determined in accordance with the contract concluded under this Chapter.

Provided that the right to possession and use shall be deemed to be created at the time of receiving such goods by him or her.

Explanation: For the purposes of this Section, the term “completion of the purchase” means the payment of the last installment of the hire-purchase price.