After the payment of all sums for which the lessee is obligated under a retail lease agreement, and upon written demand made by the lessee, the holder of such agreement shall mail to the lessee at his or her last known address good and sufficient documentation to indicate payment in full. This documentation shall not operate to release the lessee from liability for events discovered by the holder subsequent to the mailing of such documentation.
Terms Used In N.Y. Personal Property Law 344
- 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