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Current as of January 01, 2025 | Updated by Findlaw Staff
(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 fees described in section 9615(a)(1) (relating to application of proceeds).
(c) When redemption may occur.--A redemption may occur at any time before a secured party:
(1) has collected collateral under section 9607 (relating to collection and enforcement by secured party);
(2) has disposed of collateral or entered into a contract for its disposition under section 9610 (relating to disposition of collateral after default); or
(3) has accepted collateral in full or partial satisfaction of the obligation it secures under section 9622 (relating to effect of acceptance of collateral).
Cite this article: FindLaw.com - Pennsylvania Statutes Title 13 Pa.C.S.A. Commercial Code § 9623. Right to redeem collateral - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-13-pacsa-commercial-code/pa-csa-sect-13-9623/
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 before relying on it for your legal needs.
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