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Home » US Law » 2022 Maryland Statutes » Commercial Law » Title 9 - Secured Transactions » Subtitle 6 - Default » Section 9-623 – Right to Redeem Collateral

    (a)    A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.

    (b)    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 § 9-615(a)(1).

    (c)    A redemption may occur at any time before a secured party:

        (1)    Has collected collateral under § 9-607;

        (2)    Has disposed of collateral or entered into a contract for its disposition under § 9-610; or

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