Tenn. Code Ann. § 47-18-609: Renegotiations - Extensions

(a) A renegotiation occurs when an existing rental-purchase agreement is satisfied and replaced by a new lease agreement undertaken by the same consumer. A renegotiation is 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 lease property, if in either case the average payment allocable to a payment period is not changed by more than twenty-five percent (25%); (2) A deferral or extension of one (1) or more periodic payments, or portions of a periodic payment; (3) A reduction in charges in the agreement; (4) An agreement involving a court proceeding; and (5) Any other event described in regulations prescribed by the attorney general. (b) No disclosures are required for any extension of a rental-purchase agreement. Amended by 2019 Tenn. Acts, ch. 459,s 25, eff. 9/30/2019. Acts 1987, ch. 225, § 10.

(a) A renegotiation occurs when an existing rental-purchase agreement is satisfied and replaced by a new lease agreement undertaken by the same consumer. A renegotiation is 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 lease property, if in either case the average payment allocable to a payment period is not changed by more than twenty-five percent (25%); (2) A deferral or extension of one (1) or more periodic payments, or portions of a periodic payment; (3) A reduction in charges in the agreement; (4) An agreement involving a court proceeding; and (5) Any other event described in regulations prescribed by the attorney general.

(1) The addition or return of property in a multiple item agreement or the substitution of lease property, if in either case the average payment allocable to a payment period is not changed by more than twenty-five percent (25%);

(2) A deferral or extension of one (1) or more periodic payments, or portions of a periodic payment;

(3) A reduction in charges in the agreement;

(4) An agreement involving a court proceeding; and

(5) Any other event described in regulations prescribed by the attorney general.

(b) No disclosures are required for any extension of a rental-purchase agreement.