679.623 Right to redeem collateral. - Florida Statutes

679.623 Right to redeem collateral.

   (1) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.

   (2) To redeem collateral, a person shall tender:

   (a) Fulfillment of all obligations secured by the collateral; and

   (b) The reasonable expenses and attorney’s fees described in s. 679.615(1)(a).

   (3) A redemption may occur at any time before a secured party:

   (a) Has collected collateral under s. 679.607;

   (b) Has disposed of collateral or entered into a contract for its disposition under s. 679.610; or

   (c) Has accepted collateral in full or partial satisfaction of the obligation it secures under s. 679.622.

History. s. 7, ch. 2001-198.