Section 409.623. Right to redeem collateral.

 

(1)   Persons that may redeem. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.

(2)   Requirements for redemption. To redeem collateral, a person shall tender:

(a) Fulfillment of all obligations secured by the collateral; and

(b) The reasonable expenses and attorney fees described in s. 409.615 (1) (a) .

(3)   When redemption may occur. A redemption may occur at any time before a secured party:

(a) Has collected collateral under s. 409.607 ;

(b) Has disposed of collateral or entered into a contract for its disposition under s. 409.610 ; or

(c) Has accepted collateral in full or partial satisfaction of the obligation it secures under s. 409.622 .

2001 a. 10 .