Arizona Laws 44-6807. Reinstatement
A. A consumer who fails to make a timely rental payment may reinstate the rental-purchase agreement, without losing any rights or options that exist under the rental-purchase agreement, by paying the following charges within seven days after the renewal date of the rental-purchase agreement:
Terms Used In Arizona Laws 44-6807
- Consumer: means an individual who rents personal property under a rental-purchase agreement to be used primarily for personal, family or household purposes. See Arizona Laws 44-6801
- Fee: means any charge, fee, cost or expense, however denominated, other than a rental payment. See Arizona Laws 44-6801
- Lessor: means a person who, in the ordinary course of business, regularly leases, offers to lease or arranges for the leasing of property under a rental-purchase agreement. See Arizona Laws 44-6801
- Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
- Property: includes both real and personal property. See Arizona Laws 1-215
- Rental-purchase agreement: means an agreement that is for the use of personal property by an individual for personal, family or household purposes, that is for an initial period of four months or less, that is automatically renewable with each payment after the initial period and that permits the consumer to become the owner of the property but that does not obligate or require the consumer to continue leasing or using the property beyond the initial period. See Arizona Laws 44-6801
1. All past due rental payments.
2. If the rental property has been picked up, the reasonable cost of pickup and any redelivery.
3. Any applicable reinstatement fee.
B. A consumer who has paid less than sixty per cent of the total amount necessary to acquire ownership of rental property is entitled to an extended reinstatement period of at least sixty days if the consumer voluntarily surrenders the rental property, other than through judicial process, within seven days after the consumer’s receipt of a written demand for the return of the rental property providing notice of the consumer’s opportunity to obtain the extended reinstatement period.
C. A consumer who has paid sixty per cent or more of the total amount necessary to acquire ownership of rental property is entitled to an extended reinstatement period of at least one hundred eighty days if the consumer voluntarily surrenders the rental property, other than through judicial process, within fourteen days after the consumer’s receipt of a written demand for the return of the rental property providing notice of the consumer’s opportunity to obtain the extended reinstatement period.
D. Nothing in this section prevents a lessor from attempting to repossess rental property during the applicable reinstatement period, but the repossession does not affect the consumer’s right to reinstate. If the consumer reinstates after the lessor has repossessed the rental property, the lessor shall provide the consumer with the same property, if available, or with substitute property of comparable quality and condition.