537.3609 Renegotiation. 1. A renegotiation occurs when an existing consumer rental purchase agreement is satisfied and replaced by a new consumer rental purchase agreement undertaken by thesame lessor and lessee. A renegotiation is a new lease requiring new disclosures. 2. However, the following events are not renegotiations:a. The addition or return of property in a multi-item agreement or the substitution of the leased property, if in either case the lease payment is not changed by more than twenty-fivepercent. b. A deferral or extension of one or more lease payments, or portions of a lease payment.c. A reduction in charges in the agreement.d. A lease or agreement involved in a court proceeding.87 Acts, ch 80, §9 Sat Dec 23 01:40:38 2023 Iowa Code 2024, Section 537.3609 (18, 0)
Iowa Legal Code