Right to redeem collateral

(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 s. 679.615(1)(a).(3) A redemption may occur at any time before a secured party:(a) Has collected collateral under s. 679.607;(b) Has disposed of collateral or entered into a contract for its disposition under s. 679.610; or(c) Has accepted collateral in full or partial satisfaction of the obligation it secures under s. 679.622.History.—s. 7, ch. 2001-198.