Wisconsin Statutes 409.623 – Right to redeem collateral

Contract: A legal written agreement that becomes binding when signed.
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01

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

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

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

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

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

(a) Has collected collateral under s. 409.607;

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