{"data":{"id":"us-nm/57-26-9","jurisdiction":"us-nm","citation":"57-26-9","heading":"Renegotiations and extensions.","body":"A. A renegotiation occurs when any term of a rental-purchase agreement that is required to be disclosed by Section 5 [57-26-5 NMSA 1978] of the Rental-Purchase Agreement Act is changed by agreement between the lessor and consumer. A renegotiation creates a new rental-purchase agreement requiring the lessor to give all the disclosures required by Section 5 of the Rental-Purchase Agreement Act.\nB. A renegotiation shall not include:\n(1) reinstatement of a rental-purchase agreement in accordance with Section 7 [57-26-7 NMSA 1978] of the Rental-Purchase Agreement Act;\n(2) a lessor's waiver or failure to assert any claim against the consumer;\n(3) a deferral, extension or waiver of a portion of a periodic payment or of one or more periodic payments; or\n(4) a change, made at the consumer's request, of the day of the week or month on which periodic payments are to be made.","path":["Chapter 57 - Trade Practices and Regulations","ARTICLE 26 Rental-Purchase Agreements"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18560/index.do","current_through":"2025-06-20","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"bc5af9802661f2fc9d6f5a3ee1552aa940c768d263274d3a04713ba8520a9941","source_id":"us-nm","stale":false,"prev":"us-nm/57-26-8","next":"us-nm/57-26-10"},"notice":"GroundRules: Original legal text. Not legal advice."}