84-9-623. Right to redeem collateral.

138 words·~1 min read·/ks/chapter-84/84-9-623

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(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 fees described in K.S.A. 2025 Supp. 84-9-615 (a)(1), and amendments thereto.

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

(1)Has collected collateral under K.S.A. 2025 Supp. 84-9-607 , and amendments thereto;

(2)has disposed of collateral or entered into a contract for its disposition under K.S.A. 2025 Supp. 84-9-610 , and amendments thereto; or

(3)has accepted collateral in full or partial satisfaction of the obligation it secures under K.S.A. 2025 Supp. 84-9-622 , and amendments thereto.