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 subdivision 9—615(a)(1) of this title. (c) A redemption may occur at any time before a secured party:(1) has collected collateral under section 9—607 of this title;(2) has disposed of collateral or entered into a contract for its disposition under section 9—610 of this title; or (3) has accepted collateral in full or partial satisfaction of the obligation it secures under section 9—622 of this title. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)
Vermont Legal Code