(a) When a lessor and a consumer replace an existing lease-purchase agreement between the lessor and consumer with a new lease-purchase agreement, the lessor shall make the disclosures required by Alaska Stat. § 45.35.010 for the new lease-purchase agreement. In this subsection, “new lease-purchase agreement” does not include
Terms Used In Alaska Statutes 45.35.060
action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Personal property: All property that is not real property.
personal property: includes money, goods, chattels, things in action, and evidences of debt. See Alaska Statutes 01.10.060
(1) the addition of personal property to or the return or substitution of personal property already covered by a lease-purchase agreement that covers more than one item of personal property if the average lease payment allocable to a payment period is not changed by more than 25 percent of the average lease payment before the change;(2) a deferral or extension of a lease payment or portion of a payment;(3) a reduction in the amount of the payments or other charges in the lease-purchase agreement; or(4) a lease-purchase agreement that is the subject of a court action.(b) The lessor is not required to make the disclosures under Alaska Stat. § 45.35.010 when the lessor and the consumer extend the length of a lease-purchase agreement.
