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New Jersey Statutes Title 12A. Commercial Transactions 12A § 9-623

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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: - New Jersey Statutes Title 12A. Commercial Transactions 12A § 9-623 - last updated February 19, 2021 |

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