Right to redeem collateral

  1. Law
  2. Mississippi Code
  3. Regulation of Trade, Commerce and Investments
  4. Uniform Commercial Code-Secured Transactions
  5. Default
  6. Default and Enforcement of Security Interest
  7. Right to redeem collateral

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

To redeem collateral, a person shall tender:

  1. Fulfillment of all obligations secured by the collateral then due or past due (excluding any sums that would not be due except for an acceleration provision); and
  2. The reasonable expenses and attorney's fees described in Section 75-9-615(a)(1).
  3. Has accepted collateral in full or partial satisfaction of the obligation it secures under Section 75-9-622.

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

Has collected collateral under Section 75-9-607;

Has disposed of collateral or entered into a contract for its disposition under Section 75-9-610; or


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