2025 Session Last amended: 1989 session

§ 336.2A-217 — Identification

Plain-Language Summary

Goods can be identified as the goods a lease contract refers to at any time and in any manner the parties explicitly agree on. If there is no such agreement, identification happens when the lease is made if the goods already exist and are identified, or when the goods are shipped, marked, or otherwise designated by the lessor if they did not yet exist or were not yet identified. For a lease of unborn young of animals, identification happens when the young are conceived.

336.2A-217 IDENTIFICATION.

Identification of goods as goods to which a lease contract refers may be made at any time and in any manner explicitly agreed to by the parties. In the absence of explicit agreement, identification occurs:

(a) when the lease contract is made if the lease contract is for a lease of goods that are existing and identified;

(b) when the goods are shipped, marked, or otherwise designated by the lessor as goods to which the lease contract refers, if the lease contract is for a lease of goods that are not existing and identified; or

History:

1989 c 232 art 1 s 2A-217

History: History: 1989 c 232 art 1 s 2A-217

Practical Notes

Identification is the point at which specific goods become the ones tied to your lease, such as the exact car assigned to your deal. The parties can set when this happens by agreement; otherwise it occurs when existing goods are already designated, when the lessor ships or marks goods that did not yet exist, or, for animal offspring, at conception.

Source: Minnesota Office of the Revisor of Statutes