{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/59.1-207.25.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/59.1-207.25.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/59.1-207.25.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/59.1-207.25.html"}],"law_id":64667,"edition_id":1,"section_id":64667,"structure_id":15621,"section_number":"59.1-207.25","catch_line":"Renegotiations and extensions","history":"1988, c. 24.","full_text":"A\n\nA 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:1\n\nThe 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;2\n\nA deferral or extension of one or more periodic payments, or portions of a periodic payment;3\n\nA reduction in charges in the lease or agreement; and4\n\nA lease or agreement involved in a court proceeding.B\n\nNo disclosures are required for any extension of a lease-purchase agreement.","order_by":null,"text":{"0":{"id":235361,"text":"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:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":235362,"text":"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;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":235363,"text":"A deferral or extension of one or more periodic payments, or portions of a periodic payment;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":235364,"text":"A reduction in charges in the lease or agreement; and","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":235365,"text":"A lease or agreement involved in a court proceeding.","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"B"},"5":{"id":235366,"text":"No disclosures are required for any extension of a lease-purchase agreement.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A4"}},"ancestry":[{"id":15621,"edition_id":1,"name":"Virginia Lease-Purchase Agreement Act","identifier":"17.4","label":"chapter","depth":2,"order_by":1,"parent_id":12809,"metadata":{},"date_created":"2026-06-26 03:57:00","date_modified":"2026-06-26 03:57:00","permalink":{"id":259915,"object_type":"structure","relational_id":15621,"identifier":"17.4","token":"59.1\/17.4","url":"\/59.1\/17.4\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12809,"edition_id":1,"name":"Trade and Commerce","identifier":"59.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:54","date_modified":"2026-06-26 03:43:54","permalink":{"id":259521,"object_type":"structure","relational_id":12809,"identifier":"59.1","token":"59.1","url":"\/59.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":59658,"structure_id":15621,"section_number":"59.1-207.17","catch_line":"Title","url":"\/59.1-207.17\/","token":"59.1\/17.4\/59.1-207.17","metadata":false},{"id":61779,"structure_id":15621,"section_number":"59.1-207.18","catch_line":"Definitions","url":"\/59.1-207.18\/","token":"59.1\/17.4\/59.1-207.18","metadata":false},{"id":70275,"structure_id":15621,"section_number":"59.1-207.19","catch_line":"Inapplicability of other laws; exempted transactions","url":"\/59.1-207.19\/","token":"59.1\/17.4\/59.1-207.19","metadata":false},{"id":81577,"structure_id":15621,"section_number":"59.1-207.20","catch_line":"General requirements of disclosure","url":"\/59.1-207.20\/","token":"59.1\/17.4\/59.1-207.20","metadata":false},{"id":77057,"structure_id":15621,"section_number":"59.1-207.21","catch_line":"Disclosures","url":"\/59.1-207.21\/","token":"59.1\/17.4\/59.1-207.21","metadata":false},{"id":62428,"structure_id":15621,"section_number":"59.1-207.22","catch_line":"Prohibited practices","url":"\/59.1-207.22\/","token":"59.1\/17.4\/59.1-207.22","metadata":false},{"id":60515,"structure_id":15621,"section_number":"59.1-207.23","catch_line":"Reinstatement","url":"\/59.1-207.23\/","token":"59.1\/17.4\/59.1-207.23","metadata":false},{"id":84991,"structure_id":15621,"section_number":"59.1-207.24","catch_line":"Receipts and accounts","url":"\/59.1-207.24\/","token":"59.1\/17.4\/59.1-207.24","metadata":false},{"id":64667,"structure_id":15621,"section_number":"59.1-207.25","catch_line":"Renegotiations and extensions","url":"\/59.1-207.25\/","token":"59.1\/17.4\/59.1-207.25","metadata":false},{"id":86489,"structure_id":15621,"section_number":"59.1-207.26","catch_line":"Advertising","url":"\/59.1-207.26\/","token":"59.1\/17.4\/59.1-207.26","metadata":false},{"id":68212,"structure_id":15621,"section_number":"59.1-207.27","catch_line":"Enforcement; penalties","url":"\/59.1-207.27\/","token":"59.1\/17.4\/59.1-207.27","metadata":false}],"previous_section":{"id":84991,"structure_id":15621,"section_number":"59.1-207.24","catch_line":"Receipts and accounts","url":"\/59.1-207.24\/","token":"59.1\/17.4\/59.1-207.24","metadata":false},"next_section":{"id":86489,"structure_id":15621,"section_number":"59.1-207.26","catch_line":"Advertising","url":"\/59.1-207.26\/","token":"59.1\/17.4\/59.1-207.26","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/59.1-207.25\/","history_text":"

This law was first created in 1988. The record of its establishment is cataloged in chapter 24 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1988 \u201cActs\u201d aren\u2019t available online.<\/p>","references":false,"refers_to":false,"permalink":{"id":259949,"object_type":"law","relational_id":64667,"identifier":"59.1-207.25","token":"59.1\/17.4\/59.1-207.25","url":"\/59.1-207.25\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/59.1-207.25\/","token":"59.1\/17.4\/59.1-207.25","dublin_core":{"Title":"Renegotiations and extensions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 59.1-207.25","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A renegotiation shall occur when an existing lease-purchase agreement<\/span> is satisfied and replaced by a new agreement undertaken by the same lessor<\/span> and consumer<\/span>. A renegotiation shall be considered a new agreement requiring new disclosures. However, events such as the following shall not be treated as renegotiations: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> 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; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A deferral or extension of one or more periodic payments, or portions of a periodic payment; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> A reduction in charges in the lease or agreement; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> A lease or agreement involved in a court<\/span> proceeding. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> No disclosures are required for any extension of a lease-purchase agreement<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nRENEGOTIATIONS AND EXTENSIONS (\u00a7 59.1-207.25)\n\nA. A renegotiation shall occur when an existing lease-purchase agreement is\nsatisfied and replaced by a new agreement undertaken by the same lessor and\nconsumer. A renegotiation shall be considered a new agreement requiring new\ndisclosures. However, events such as the following shall not be treated as\nrenegotiations:\n\n 1. The addition or return of property in a multiple-item agreement or the\n substitution of the lease property, if in either case the average payment\n allocable to a payment period is not changed by more than twenty-five percent;\n\n 2. A deferral or extension of one or more periodic payments, or portions of a\n periodic payment;\n\n 3. A reduction in charges in the lease or agreement; and\n\n 4. A lease or agreement involved in a court proceeding.\n\nB. No disclosures are required for any extension of a lease-purchase agreement.\n\nHISTORY: 1988, c. 24.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}