Statute · New York Uniform Commercial Code
N.Y. U.C.C. Law § 9-623 — Right to Redeem Collateral
N.Y. U.C.C. Law § 9-623
- Type
- Statute
- Source
- New York Uniform Commercial Code
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
Section 9--623. Right to Redeem Collateral.
Citator
N.Y. U.C.C. Law § 9-623 — Right to Redeem Collateral is in force in the current edition of the Code, and nothing recorded condemns it.
Section 9--623. Right to Redeem Collateral.
(a) Persons that may redeem. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.
(b) 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
Section 9--615(a)(1).
(c) When redemption may occur. A redemption may occur at any time before a secured party:
(1) has collected collateral under Section 9--607;
(2) has disposed of collateral or entered into a contract for its
disposition under Section 9--610; or
(3) has accepted collateral in full or partial satisfaction of
the obligation it secures under Section 9--622.