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Utah Code Title 15. Contracts and Obligations in General § 15-8-10. Renegotiations and extensions

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) A renegotiation shall occur when an existing rental purchase agreement is satisfied and replaced by a new agreement entered into by the same lessor and consumer. A renegotiation shall be considered a new agreement requiring new disclosures. However, events such as the following may not be treated as renegotiations:

(a) the addition or return of property in a multiple item agreement or the substitution of the rental property, if in either case the previous periodic payment allocable to a rental period does not change by more than 25%;

(b) a deferral or extension of one or more periodic payments, or any portion of a periodic payment;

(c) a reduction in charges in the agreement; or

(d) any court proceedings involving an agreement.

(2) Disclosures are not required for any extension of a rental purchase agreement.

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Cite this article: FindLaw.com - Utah Code Title 15. Contracts and Obligations in General § 15-8-10. Renegotiations and extensions - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-15-contracts-and-obligations-in-general/ut-code-sect-15-8-10/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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