Right to Redeem Collateral

  1. Law
  2. Tennessee Code
  3. Commercial Instruments and Transactions
  4. Secured Transactions
  5. Default
  6. Right to Redeem Collateral

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  1. Persons that may redeem.  A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.
  2. 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).
  3. 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.


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