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42-407: Oberegg is first mentioned in 1470 as a village. Around the time that the church was built (finished in 1655) Oberegg had grown to encompass the region surrounding the village. The municipality was formally established in 1872 when Hirschberg and Oberegg joined. Hirschberg was first mentioned in the 11th century as Hirsberg . Hirschberg was divided during the division of Appenzell in the wake of

84-418: A Mullet Or and Vert a Cross couped pattee Argent and of the last a Deer Gules trippant on a Mount of 3 Coupeaux Vert. The coat of arms is a divided vertically to show the coat of arms of Hirschenberg (right hand side) and Oberegg (left hand side). On the left hand side there is a silver cross on a green background at the bottom. At the top, the background is black with a golden star. On the right hand side,

126-507: A consumer is close to acquiring ownership . At the time of a 2000 FTC survey, individuals who engaged in rent-to-own transactions reported a "low incidence of late-term repossessions", which the FTC suggested might be due to the reinstatement rights mandated in most states, as these rights allow consumers to reinstate this type of contract after repossession. While rent-to-own transactions are most commonly conducted for purchasing consumer goods at

168-515: A growing desire to share information, develop uniform practices and procedures, and cultivate a positive public image within the growing rent-to-own industry in the United States, rent-to-own dealers established a trade association, the Association of Progressive Rental Organizations (APRO), in 1980. APRO began with approximately 40 original member companies and elected an initial board of 16. Today

210-427: A loan in time to purchase the property, whether due to insufficient downpayment or credit, at which point they are left to restructure the agreement or forced to walk away. In a rent-to-own transaction, the tenant lives on the real property and pay towards purchasing the property at a fixed price within a specific period of time, usually one to three years. As part of the contract, the renter may be required to make

252-419: A nonrefundable deposit often included as part of a down payment at the end of the lease term. In addition to monthly rent, often an additional amount called a rent credit is paid into an escrow account during the lease period. This amount is added to the deposit and used as part of the down payment at the end of the lease term. This pushes the rent above the market rate but helps build savings for purchase if

294-549: A retail store, this term also describes a specialized real estate agreement. The rent-to-own housing option is typically exercised more often during housing market downturns, such as the late 2000s (decade) financial crisis . Because the most recent housing market downturn was accompanied by protective regulatory scrutiny of lending practices and consumer credit agencies, acquiring a loan has become more difficult for Subprime borrowers. Tenant/buyers who have imperfect credit scores are typically drawn to rent-to-own properties since

336-435: A total of 692 inhabited buildings. There were 46 multi-family buildings (6.6%), along with 178 multi-purpose buildings that were mostly used for housing (25.7%) and 43 other use buildings (commercial or industrial) that also had some housing (6.2%). Of the single family homes 234 were built before 1919, while 34 were built between 1990 and 2000. In 2000 there were 852 apartments in the district. The most common apartment size

378-414: Is a type of legally documented transaction under which tangible property , such as furniture , consumer electronics , motor vehicles , home appliances , engagement rings , and real property , is leased in exchange for a weekly or monthly payment, with the option to purchase at some point during the agreement. A rent-to-own transaction differs from a traditional lease, in that the lessee can purchase

420-487: The Christian Catholic Church , and there were 32 individuals (or about 1.78% of the population) who belonged to another Christian church. There were 34 (or about 1.89% of the population) who were Islamic . 86 (or about 4.79% of the population) belonged to no church, are agnostic or atheist , and 22 individuals (or about 1.22% of the population) did not answer the question. In Oberegg about 637 or (35.5%) of

462-670: The Reformation . Some communities were left in the old faith, others turned themselves to the new faith. When the canton of Appenzell was divided in 1597 into a Catholic and a Protestant part of the canton, the Catholic majority of Hirschberg wanted to stay with Innerrhoden , while the Protestant minority wanted to go to Ausserrhoden . In the division of Appenzell (known as the Landteilungsbrief , literally Land division letter or treaty ),

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504-536: The United States during the 1950s and 1960s. While rent-to-own terminology is most commonly associated with consumer goods transactions, the term is sometimes used in connection with real estate transactions. The concept of the rent-to-own transactions first emerged in the United Kingdom and continental European countries under the hire purchase model. One of the first rent-to-own retail stores established in

546-598: The United States Government Accountability Office raised concerns with the methodology and structure of this research. Later in the same year, the Department of Defense ultimately concluded that rent-to-own was not a form of credit and excluded it from its regulation on predatory lending practices. Consumer advocates and plaintiffs testifying in legal proceedings have at times alleged that rent-to-own stores routinely repossess merchandise when

588-428: The lease on a weekly or monthly basis by making renewal payments, or to terminate the agreement with no further obligation by returning the tangible property. Though not obligated to do so, the consumer can choose to continue making interval payments on the merchandise for a pre-specified period of time, at which point they would own the good outright. An alternative purchase option is commonly provisioned for, allowing

630-455: The secondary sector and there were 37 businesses in this sector. 200 people were employed in the tertiary sector , with 58 businesses in this sector. There were 876 residents of the district who were employed in some capacity, of which females made up 39.5% of the workforce. In 2008 the total number of full-time equivalent jobs was 523. The number of jobs in the primary sector was 81, all of which were in agriculture. The number of jobs in

672-626: The U.K. was Lotus Radio, which began operating as a radio rental business in 1933. Within the United States , the practice of retail-based rent-to-own businesses began to develop in the 1950s and 1960s. Individuals cited as key figures in the history of the rent-to-own transaction and application as a business model include Charles Loudermilk Sr., who in 1955 began renting out Army surplus chairs and later founded Aaron Rents , and J. Ernest Talley, who started Mr. T’s Rental in Wichita, Kansas in 1963, and later helped establish Rent-A-Center . In response to

714-406: The association has approximately 350 member companies representing approximately 10,400 stores in all 50 states, Mexico and Canada. Rent-to-own serves 4.8 million customers at any given time in the year. Rent-to-own agreements are based on a weekly or monthly rental term. In the structure of this type of transaction, the consumer ( lessee )—at the end of each week or month—can choose either to renew

756-443: The bottom of the coat of arms shows three mounts in green. At the top there is a red deer strutting on a silver background. Oberegg has a population (as of December 2020) of 1,926. As of 2008, 8.3% of the population are resident foreign nationals. Over the last 10 years (1999–2009 ) the population has changed at a rate of 3.5%. It has changed at a rate of 8.2% due to migration and at a rate of 0.5% due to births and deaths. Most of

798-457: The buy option is taken. At the end of the lease term, the tenant is offered right of first refusal to purchase the property at the agreed upon sale price, or walk away and forfeit the deposit. If the tenant is unable or unwilling to exercise the option to buy, the owner is then free to rent or sell the property to another buyer, or to restructure the contract. Because rent-to-own real estate contracts are flexible open-source documents, there

840-492: The consumer to pay off the remaining balance on the agreement at any point in time in order to obtain permanent ownership. According to a Federal Trade Commission (FTC) survey on the rent-to-own industry in the United States conducted in 2000, consumers reported that they chose to engage in rent-to-own transactions for a variety of reasons, including: "the lack of a credit check", "the ability to obtain merchandise they otherwise could not", and, "the convenience and flexibility of

882-628: The definition of "credit sale" in the Truth in Lending Act . However, courts have not, as of 2011, ruled in favor of making this change at a federal level. In 2006, the United States Department of Defense labeled rent-to-own a predatory lending practice, defining it as an, "unfair or abusive loan or credit sale transaction or collection practice", along with payday loans , title loans, refund anticipation loans and other similar practices. In 2007,

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924-521: The district, in 2010, was 1.35%. The historical population is given in the following chart: In the 2007 federal election the CVP received 90.13% of the vote. In the federal election, a total of 334 votes were cast, and the voter turnout was 24.9%. As of  2010, Oberegg had an unemployment rate of 0.8%. As of 2008, there were 127 people employed in the primary economic sector and about 61 businesses involved in this sector. 309 people were employed in

966-484: The district. Appenzell Too Many Requests If you report this error to the Wikimedia System Administrators, please include the details below. Request from 172.68.168.151 via cp1112 cp1112, Varnish XID 385728642 Upstream caches: cp1112 int Error: 429, Too Many Requests at Fri, 29 Nov 2024 05:38:44 GMT Rent-to-own Rent-to-own , also known as rental purchase or rent-to-buy ,

1008-451: The district. There were 870 married individuals, 83 widows or widowers and 79 individuals who are divorced. As of 2000 the average number of residents per living room was 0.55 which is about equal to the cantonal average of 0.59 per room. In this case, a room is defined as space of a housing unit of at least 4 m (43 sq ft) as normal bedrooms, dining rooms, living rooms, kitchens and habitable cellars and attics. About 67.6% of

1050-635: The five U.S. state supreme courts that have addressed the question, three ( Massachusetts , Arkansas and Maine ) concluded that the transaction was a lease. New Jersey and Minnesota concluded it was a credit sale based upon those states’ credit laws. A federal district court in Wisconsin also found the transaction to be a credit sale under Wisconsin state law. As of 2011, no U.S. federal consumer protection law specifically addresses rent-to-own transactions, but through litigation, efforts have been made in attempt to bring rent-to-own agreements under

1092-399: The higher assessed value and corresponding price charged. Also frequently noted by proponents of the unique nature of rent-to-own transactions is the point that they are not obligations to purchase, since the agreement can be terminated by the lessee at any point in time with the return of the property. The legal controversy surrounding rent-to-own transactions has centered primarily on

1134-470: The insurance or financial industry, 11 or 7.1% were technical professionals or scientists, 26 or 16.8% were in education and 10 or 6.5% were in health care. In 2000, there were 236 workers who commuted into the district and 516 workers who commuted away. The district is a net exporter of workers, with about 2.2 workers leaving the district for every one entering. About 16.9% of the workforce coming into Oberegg are coming from outside Switzerland, while 1.0% of

1176-582: The land owned by the Protestants was separated from Hirschberg and given to the Protestant Ausserrhoden, where it became the municipality of Reute . Catholic Hirschberg would later become part of the Innerrhoden municipality of Oberegg. Oberegg has an area, as of 2011, of 14.7 square kilometers (5.7 sq mi). Of this area, 51.8% is used for agricultural purposes, while 42.5% is forested. Of

1218-458: The lease terms allow them to live in the home while they take the steps necessary to fix their credit and secure a mortgage. Most lease purchase agreements allow them to lock in a market rate when they sign the contract. People with poor credit find the leasing period a crucial opportunity to repair their financial profile to secure a loan. A common complaint tenant/buyers have with rent-to-own agreements, however, stems from their inability to secure

1260-420: The leased item at any time during the agreement (in a traditional lease the lessee has no such right), and from a hire purchase/installment plan , in that the lessee can terminate the agreement by simply returning the property (in a hire purchase the buyer has a limited time, if any, to cancel the agreement). The usage of rent-to-own transactions began in the United Kingdom and Europe , and first appeared in

1302-487: The locals commute out of Switzerland for work. Of the working population, 9% used public transportation to get to work, and 54.8% used a private car. From the 2000 census, 1,269 or 70.7% were Roman Catholic , while 348 or 19.4% belonged to the Swiss Reformed Church . Of the rest of the population, there were 4 members of an Orthodox church (or about 0.22% of the population), there was 1 individual who belongs to

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1344-789: The population (as of 2000) speaks German (1,738 or 96.8%), with Albanian being second most common (13 or 0.7%) and Italian being third (8 or 0.4%). There are 3 people who speak French and 2 people who speak Romansh . Of the population in the district 933 or about 51.9% were born in Oberegg and lived there in 2000. There were 31 or 1.7% who were born in the same canton, while 659 or 36.7% were born somewhere else in Switzerland, and 154 or 8.6% were born outside of Switzerland. In 2008 there were 15 live births to Swiss citizens and 2 births to non-Swiss citizens, and in same time span there were 22 deaths of Swiss citizens. Ignoring immigration and emigration,

1386-457: The population have completed non-mandatory upper secondary education , and 158 or (8.8%) have completed additional higher education (either university or a Fachhochschule ). Of the 158 who completed tertiary schooling, 66.5% were Swiss men, 19.0% were Swiss women, 10.1% were non-Swiss men and 4.4% were non-Swiss women. As of 2000, there were 41 students in Oberegg who came from another district, while 35 residents attended schools outside

1428-498: The population of Swiss citizens decreased by 7 while the foreign population increased by 2. There were 6 non-Swiss men and 2 non-Swiss women who immigrated from another country to Switzerland. The total Swiss population change in 2008 (from all sources, including moves across municipal borders) was an increase of 22 and the non-Swiss population increased by 5 people. This represents a population growth rate of 1.4%. As of 2000, there were 764 people who were single and never married in

1470-646: The potentially high long-term costs of rent-to-own in comparison to traditional installment or layaway plans. Often mentioned alongside most critiques is the question of whether prices paid for services of this type are adequate for lower-income individuals who can least afford additional financial outlays. At the same time, other academic researchers and representatives of industry associations have contended that rent-to-own transactions are not comparable to traditional methods of purchasing or financing consumer goods, in that they include services such as delivery, assembly, service and repair, all of which are factored into

1512-454: The question of whether the transaction should be treated as a lease or a credit sale . The industry has contended that the transaction is a lease; while consumer advocacy groups have advocated for the transaction to be treated as a credit sale. As of 2011, forty-seven U.S. states, Guam , Puerto Rico , and the District of Columbia have passed laws characterizing the transaction as a lease. Of

1554-399: The rest of the households, there are 201 married couples without children, 252 married couples with children There were 28 single parents with a child or children. There were 11 households that were made up of unrelated people and 9 households that were made up of some sort of institution or another collective housing. In 2000 there were 425 single family homes (or 61.4% of the total) out of

1596-463: The rest of the land, 5.5% is settled (buildings or roads) and 0.1% is unproductive land. The district is the outermost portion of the half-canton toward the Rhine valley ( German : Rheintal ). It consists of the village of Oberegg and the hamlets of Büriswilen, Kapf, Eschenmoos, Sankt Anton and numerous individual farm houses. The blazon of the municipal coat of arms is Impaled per chevron Sable

1638-403: The secondary sector was 287 of which 212 or (73.9%) were in manufacturing and 75 (26.1%) were in construction. The number of jobs in the tertiary sector was 155. In the tertiary sector; 42 or 27.1% were in the sale or repair of motor vehicles, 19 or 12.3% were in the movement and storage of goods, 24 or 15.5% were in a hotel or restaurant, 4 or 2.6% were in the information industry, 6 or 3.9% were

1680-526: The total households were owner occupied, or in other words did not pay rent (though they may have a mortgage or a rent-to-own agreement). As of 2000, there were 680 private households in the district, and an average of 2.6 persons per household. There were 173 households that consist of only one person and 82 households with five or more people. Out of a total of 689 households that answered this question, 25.1% were households made up of just one person and there were 15 adults who lived with their parents. Of

1722-592: The transaction". The most common reason cited for dissatisfaction within the survey was high prices. In addition, some survey respondents reported poor treatment by employees in connection with late rental payments, problems with repair services, and hidden or added costs. The cost incurred by consumers in rent-to-own transactions has been the subject of long-term debate and differing opinion. Historically, consumer advocates, some U.S. state attorneys general and some academic researchers have expressed concern that consumers entering into rent-to-own agreements may be unaware of

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1764-421: Was 4 rooms of which there were 234. There were 11 single room apartments and 394 apartments with five or more rooms. Of these apartments, a total of 660 apartments (77.5% of the total) were permanently occupied, while 130 apartments (15.3%) were seasonally occupied and 62 apartments (7.3%) were empty. As of 2009, the construction rate of new housing units was 0.5 new units per 1000 residents. The vacancy rate for

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