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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) A renegotiation shall occur when an existing lease-purchase agreement is satisfied and replaced by a new agreement undertaken by the same lessor and consumer. A renegotiation shall be considered a new agreement requiring new disclosures. However, events such as the following shall not be treated as renegotiations:
(a) The addition or return of property in a multiple-item agreement or the substitution of the lease property, if in either case the average payment allocable to a payment period is not changed by more than twenty-five percent;
(b) A deferral or extension of one or more periodic payments, or portions of a periodic payment;
(c) A reduction in charges in the lease or agreement; and
(d) A lease or agreement involved in a court proceeding.
(2) No disclosures are required for any extension of a lease-purchase agreement.
Cite this article: FindLaw.com - Washington Revised Code Title 63. Personal Property § 63.19.080. Renegotiation--Same lessor and consumer - last updated January 01, 2025 | https://codes.findlaw.com/wa/title-63-personal-property/wa-rev-code-63-19-080/
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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