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Assignments of right, title and interest of owner under regulated agreement

Hire-Purchase Act 1969

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Wrong or mistyped textWrong structure or numberingWrong title or detailsDuplicated content

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—(1) The hirer under a regulated agreement may, by notice in writing to the owner, require the owner to assign his right, title and interest under the agreement to another person.(2) As a condition of the assignment of the right, title and interest of the owner under a regulated agreement, the owner may —(a)stipulate that all defaults under the agreement shall be made good; and(b)require the hirer and assignee —(i)to deliver to the owner a form of assignment whereby the assignee agrees to pay to the owner the net balance due under the agreement; and(ii)to pay to the owner any reasonable costs incurred by the owner (including legal expenses) in relation to the assignment.(3) Except as otherwise provided in this section, no payment or other consideration shall be required by an owner for an assignment referred to in subsection (1).(4) Where an owner fails or refuses to assign his right, title and interest under the regulated agreement as required by the hirer in accordance with this section, the hirer may apply to a court for an order requiring the owner to do so.

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