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Wis. Stat. § 409.623

Right to redeem collateral

Applied in 2 court decisions — leading case 2006 WI App 266 - Indianhead Motors v. Brooks (2006)

Most recently applied in In Re Herbst (April 2012)

2001 a. 10.

(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:

(a) Fulfillment of all obligations secured by the collateral; and (b) The reasonable expenses and attorney fees described in s. 409.615 (1) (a).

(3) WHEN REDEMPTION MAY OCCUR. A redemption may occur at any time before a secured party:

(a) Has collected collateral under s. 409.607;

(b) Has disposed of collateral or entered into a contract for its disposition under s. 409.610; or (c) Has accepted collateral in full or partial satisfaction of the obligation it secures under s. 409.622.

Official source: Wisconsin State Legislature. Reproduced from public-domain Wisconsin statutes; confirm against the official source for the current text. Not legal advice.