Mass. Gen. Laws ch. 106 § 9-623

Current through Chapter 112 of the 2024 Legislative Session
Section 106:9-623 - Right to redeem collateral
(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 Section 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 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.

Mass. Gen. Laws ch. 106, § 9-623

Amended by Acts 2001, c. 26, § 39, eff. 7/1/2001.