Current as of February 19, 2021 | Updated by FindLaw Staff
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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 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.
Cite this article: FindLaw.com - New Jersey Statutes Title 12A. Commercial Transactions 12A § 9-623 - last updated February 19, 2021 | https://codes.findlaw.com/nj/title-12a-commercial-transactions/nj-st-sect-12a-9-623/
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