Right to redeem collateral.

  1. Law
  2. Utah Code
  3. Uniform Commercial Code
  4. Uniform Commercial Code - Secured Transactions
  5. Default
  6. Right to redeem collateral.

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  • (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 Subsection 70A-9a-615(1)(a).
  • (3) A redemption may occur at any time before a secured party:
    • (a) has collected collateral under Section 70A-9a-607;
    • (b) has disposed of collateral or entered into a contract for its disposition under Section 70A-9a-610; or
    • (c) has accepted collateral in full or partial satisfaction of the obligation it secures under Section 70A-9a-622.




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