Virginia § 59.1-207.25 - Renegotiations and extensions
Full text of Virginia Code of Virginia § 59.1-207.25 — Renegotiations and extensions, with citation guidance and answers to common questions.
§ 59.1-207.25. Renegotiations and extensions
A. 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:
1. 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;
2. A deferral or extension of one or more periodic payments, or portions of a periodic payment;
3. A reduction in charges in the lease or agreement; and
4. A lease or agreement involved in a court proceeding.
B. No disclosures are required for any extension of a lease-purchase agreement.
1988, c. 24.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 59.1-207.25
What does Code of Virginia § 59.1-207.25 cover?
Section 59.1-207.25 ("Renegotiations and extensions") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 59.1-207.25?
A common citation format is "Code of Virginia § 59.1-207.25" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 59.1-207.25 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.