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Current as of January 01, 2024 | Updated by FindLaw Staff
(a) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.
(b) 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 § 28:9-615(a)(1).
(c) A redemption may occur at any time before a secured party:
(1) Has collected collateral under § 28:9-607;
(2) Has disposed of collateral or entered into a contract for its disposition under § 28:9-610; or
(3) Has accepted collateral in full or partial satisfaction of the obligation it secures under § 28:9-622.
Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 28:9-623. Right to redeem collateral. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-28-9-623/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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