State Codes and Statutes
Statutes > New-mexico > Chapter-55 > Article-9 > Section-55-9-62355-9-623. 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 fees described in Paragraph (1) of Subsection (a) of Section 55-9-615 NMSA 1978.
(c) A redemption may occur at any time before a secured party:
(1) has collected collateral under Section 55-9-607 NMSA 1978;
(2) has disposed of collateral or entered into a contract for its disposition under Section 55-9-610 NMSA 1978; or
(3) has accepted collateral in full or partial satisfaction of the obligation it secures under Section 55-9-622 NMSA 1978.
