Tennessee § 47-9-623 Right to redeem collateral

Tennessee Statutes

§ 47-9-623 — 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 § 47-9-615(a)(1) .

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

(1)has collected collateral under § 47-9-607 ;

(2)has disposed of collateral or entered into a contract for its disposition under § 47-9-610 ; or (3) has accepted collateral in full or partial satisfaction of the obligation it secures under § 47-9-622 .

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(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 § 47-9-615(a)(1) . (c) When redemption may occur. A redemption may occur at any time before a secured party: (1) has collected collateral under § 47-9-607 ; (2) has disposed of collateral or entered into a contract for its disposition under § 47-9-610 ; or (3) has accepted collateral in full or partial satisfaction of the obligation it secures under § 47-9-622 .

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