N.Y. Personal Property Law 342 – Restriction on the reporting of early terminations
Current as of: 2023 | Check for updates
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Terms Used In N.Y. Personal Property Law 342
- 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
The holder of a retail lease agreement shall not report the voluntary early termination of the agreement to a consumer reporting agency or any other person as a derogatory item of information unless the lessee fails to satisfy his or her early termination obligations.