§ 623 - Right to redeem collateral - Vermont Statutes

§ 9-623. Right to redeem collateral

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

(b) 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 section 9-615(a)(1).

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

(1) has collected collateral under section 9-607;

(2) has disposed of collateral or entered into a contract for its disposition under section 9-610; or

(3) has accepted collateral in full or partial satisfaction of the obligation it secures under section 9-622. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)