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Tenn. Code Ann. § 47-9-623

Right to redeem collateral

Known as the Uniform Commercial Code

The act spans §§ 47–47 (578 sections).

Acts 2000, ch. 846, § 1.

(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: fulfillment of all obligations secured by the collateral; and

(3) the reasonable expenses and attorney's fees described in § 47-9-615(a)(1).

(4) When redemption may occur. A redemption may occur at any time before a secured party: has collected collateral under § 47-9-607;

(5) has disposed of collateral or entered into a contract for its disposition under § 47-9-610; or

(6) has accepted collateral in full or partial satisfaction of the obligation it secures under § 47-9-622.

Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.