Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 02, 2024 | 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'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.
Cite this article: FindLaw.com - Tennessee Code Title 47. Commercial Instruments and Transactions § 47-9-623 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-47-commercial-instruments-and-transactions/tn-code-sect-47-9-623/
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.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)