New Jersey § 12A:9-623 Right to redeem collateral.

New Jersey Statutes

§ 12A:9-623 — Right to redeem collateral.

New Jersey § 12A:9-623

Title 12ACOMMERCIAL TRANSACTIONS

This text of New Jersey § 12A:9-623 (Right to redeem collateral.) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 12A:9-623 (2026).

Text

12A:9-623. Right to Redeem Collateral.

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

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

(1)fulfillment of all obligations secured by the collateral; and (2) the reasonable expenses and attorney's fees described in 12A:9-615 (a) (1).

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

(1)has collected collateral under 12A:9-607;

(2)has disposed of collateral or entered into a contract for its disposition under 12A:9-610; or (3) has accepted collateral in full or partial satisfaction of the obligation it secures under 12A:9-622. L.2001, c.117, s.1; amended 2001, c.386, s.112.

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12A:9-623. Right to Redeem Collateral. (a) Persons that may redeem. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral. (b) Requirements for redemption. To redeem collateral, a person shall tender: (1) fulfillment of all obligations secured by the collateral; and (2) the reasonable expenses and attorney's fees described in 12A:9-615 (a) (1). (c) When redemption may occur. A redemption may occur at any time before a secured party: (1) has collected collateral under 12A:9-607; (2) has disposed of collateral or entered into a contract for its disposition under 12A:9-610; or (3) has accepted collateral in full or partial satisfaction of the obligation it secures under 12A:9-622. L.2001, c.117, s.1; amended 2001, c.386, s.112.