N.Y. Personal Property Law Section 345
Renegotiations and extensions

1.

A renegotiation is a new lease which is subject to the disclosure requirements of § 337 (Requirements as to retail lease agreements)section three hundred thirty-seven of this article.

2.

The disclosure requirements of § 337 (Requirements as to retail lease agreements)section three hundred thirty-seven of this article are not applicable to any extension of a retail lease agreement. An extension of a retail lease agreement need not be signed contemporaneously by the holder and the lessee if the extension is transacted by mail, is for a period of twenty-four months or less and is first signed by the holder prior to signature by the lessee.

Source: Section 345 — Renegotiations and extensions, https://www.­nysenate.­gov/legislation/laws/PEP/345 (updated Sep. 22, 2014; accessed May 4, 2024).

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Accessed:
May 4, 2024

Last modified:
Sep. 22, 2014

§ 345’s source at nysenate​.gov

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