(a) Persons that may redeem.— A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.\n(b) Requirements for redemption.— To redeem collateral, a person shall tender:\n(1) Fulfillment of all obligations secured by the collateral, and\n(2) the reasonable expenses and attorney's fees described in § 2375(a)(1) of this title.\n(c) When redemption may occur.— A redemption may occur at any time before a secured party:\n(1) Has collected collateral under § 2367 of this title;\n(2) has disposed of collateral or entered into a contract for its disposition under § 2370 of this title, or\n(3) has accepted collateral in full or partial satisfaction of the obligation it secures under § 2382 of this title.\nHistory —Sept. 19, 1996, No. 241, added as § 9-623 on Jan. 17, 2012, No. 21, § 11, eff. 1 year after Jan. 17, 2012.
Puerto Rico Legal Code