State Codes and Statutes

Statutes > Wisconsin > 409 > 409.623

409.623

409.623 Right to redeem collateral.

409.623(1)

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

409.623(2)

(2) Requirements for redemption. To redeem collateral, a person shall tender:

409.623(2)(a)

(a) Fulfillment of all obligations secured by the collateral; and

409.623(2)(b)

(b) The reasonable expenses and attorney fees described in s. 409.615 (1) (a).

409.623(3)

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

409.623(3)(a)

(a) Has collected collateral under s. 409.607;

409.623(3)(b)

(b) Has disposed of collateral or entered into a contract for its disposition under s. 409.610; or

409.623(3)(c)

(c) Has accepted collateral in full or partial satisfaction of the obligation it secures under s. 409.622.

409.623 - ANNOT.

History: 2001 a. 10.