{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.9A-623.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.9A-623.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.9A-623.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.9A-623.html"}],"law_id":76014,"edition_id":1,"section_id":76014,"structure_id":15263,"section_number":"8.9A-623","catch_line":"Right to redeem collateral","history":"1964, c. 219, \u00a7 8.9-506; 2000, c. 1007.","full_text":"a\n\nPersons that may redeem. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.b\n\nRequirements for redemption. To redeem collateral, a person shall tender:1\n\nfulfillment of all obligations secured by the collateral; and2\n\nthe reasonable expenses and attorney’s fees described in § 8.9A-615 (a) (1).c\n\nWhen redemption may occur. A redemption may occur at any time before a secured party:1\n\nhas collected collateral under § 8.9A-607;2\n\nhas disposed of collateral or entered into a contract for its disposition under § 8.9A-610; or3\n\nhas accepted collateral in full or partial satisfaction of the obligation it secures under § 8.9A-622.","order_by":null,"text":{"0":{"id":272853,"text":"Persons that may redeem. A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"b"},"1":{"id":272854,"text":"Requirements for redemption. To redeem collateral, a person shall tender:","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a","next_prefix":"b1"},"2":{"id":272855,"text":"fulfillment of all obligations secured by the collateral; and","type":"section","prefixes":["b","1"],"prefix":"1","entire_prefix":"b1","prefix_anchor":"b1","level":2,"prior_prefix":"b","next_prefix":"b2"},"3":{"id":272856,"text":"the reasonable expenses and attorney’s fees described in § 8.9A-615 (a) (1).","type":"section","prefixes":["b","2"],"prefix":"2","entire_prefix":"b2","prefix_anchor":"b2","level":2,"prior_prefix":"b1","next_prefix":"c"},"4":{"id":272857,"text":"When redemption may occur. A redemption may occur at any time before a secured party:","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"b2","next_prefix":"c1"},"5":{"id":272858,"text":"has collected collateral under § 8.9A-607;","type":"section","prefixes":["c","1"],"prefix":"1","entire_prefix":"c1","prefix_anchor":"c1","level":2,"prior_prefix":"c","next_prefix":"c2"},"6":{"id":272859,"text":"has disposed of collateral or entered into a contract for its disposition under § 8.9A-610; or","type":"section","prefixes":["c","2"],"prefix":"2","entire_prefix":"c2","prefix_anchor":"c2","level":2,"prior_prefix":"c1","next_prefix":"c3"},"7":{"id":272860,"text":"has accepted collateral in full or partial satisfaction of the obligation it secures under § 8.9A-622.","type":"section","prefixes":["c","3"],"prefix":"3","entire_prefix":"c3","prefix_anchor":"c3","level":2,"prior_prefix":"c2"}},"ancestry":[{"id":15263,"edition_id":1,"name":"Default and Enforcement of Security Interest","identifier":"1","label":"subpart","depth":3,"order_by":1,"parent_id":15262,"metadata":{},"date_created":"2026-06-26 03:53:25","date_modified":"2026-06-26 03:53:25","permalink":{"id":284295,"object_type":"structure","relational_id":15263,"identifier":"1","token":"8.9A\/6\/1","url":"\/8.9A\/6\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":15262,"edition_id":1,"name":"Default","identifier":"6","label":"part","depth":2,"order_by":1,"parent_id":13277,"metadata":{},"date_created":"2026-06-26 03:53:25","date_modified":"2026-06-26 03:53:25","permalink":{"id":284293,"object_type":"structure","relational_id":15262,"identifier":"6","token":"8.9A\/6","url":"\/8.9A\/6\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13277,"edition_id":1,"name":"Commercial Code \u2014 Secured Transactions","identifier":"8.9A","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:44:33","date_modified":"2026-06-26 03:44:33","permalink":{"id":283833,"object_type":"structure","relational_id":13277,"identifier":"8.9A","token":"8.9A","url":"\/8.9A\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":87391,"structure_id":15263,"section_number":"8.9A-601","catch_line":"Rights after default; judicial enforcement, consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes","url":"\/8.9A-601\/","token":"8.9A\/6\/1\/8.9A-601","metadata":false},{"id":74406,"structure_id":15263,"section_number":"8.9A-602","catch_line":"Waiver and variance of rights and duties","url":"\/8.9A-602\/","token":"8.9A\/6\/1\/8.9A-602","metadata":false},{"id":69348,"structure_id":15263,"section_number":"8.9A-603","catch_line":"Agreement on standards concerning rights and duties","url":"\/8.9A-603\/","token":"8.9A\/6\/1\/8.9A-603","metadata":false},{"id":61411,"structure_id":15263,"section_number":"8.9A-604","catch_line":"Procedure if security agreement covers real property or fixtures","url":"\/8.9A-604\/","token":"8.9A\/6\/1\/8.9A-604","metadata":false},{"id":69925,"structure_id":15263,"section_number":"8.9A-605","catch_line":"Unknown debtor or secondary obligor","url":"\/8.9A-605\/","token":"8.9A\/6\/1\/8.9A-605","metadata":false},{"id":82913,"structure_id":15263,"section_number":"8.9A-606","catch_line":"Time of default for agricultural lien","url":"\/8.9A-606\/","token":"8.9A\/6\/1\/8.9A-606","metadata":false},{"id":78656,"structure_id":15263,"section_number":"8.9A-607","catch_line":"Collection and enforcement by secured party","url":"\/8.9A-607\/","token":"8.9A\/6\/1\/8.9A-607","metadata":false},{"id":58414,"structure_id":15263,"section_number":"8.9A-608","catch_line":"Application of proceeds of collection or enforcement; liability for deficiency and right to surplus","url":"\/8.9A-608\/","token":"8.9A\/6\/1\/8.9A-608","metadata":false},{"id":76317,"structure_id":15263,"section_number":"8.9A-609","catch_line":"Secured party's right to take possession after default","url":"\/8.9A-609\/","token":"8.9A\/6\/1\/8.9A-609","metadata":false},{"id":83035,"structure_id":15263,"section_number":"8.9A-610","catch_line":"Disposition of collateral after default","url":"\/8.9A-610\/","token":"8.9A\/6\/1\/8.9A-610","metadata":false},{"id":69700,"structure_id":15263,"section_number":"8.9A-611","catch_line":"Notification before disposition of collateral","url":"\/8.9A-611\/","token":"8.9A\/6\/1\/8.9A-611","metadata":false},{"id":60808,"structure_id":15263,"section_number":"8.9A-612","catch_line":"Timeliness of notification before disposition of collateral","url":"\/8.9A-612\/","token":"8.9A\/6\/1\/8.9A-612","metadata":false},{"id":72203,"structure_id":15263,"section_number":"8.9A-613","catch_line":"Contents and form of notification before disposition of collateral; general","url":"\/8.9A-613\/","token":"8.9A\/6\/1\/8.9A-613","metadata":false},{"id":83544,"structure_id":15263,"section_number":"8.9A-614","catch_line":"Contents and form of notification before disposition of collateral; consumer-goods transaction","url":"\/8.9A-614\/","token":"8.9A\/6\/1\/8.9A-614","metadata":false},{"id":63326,"structure_id":15263,"section_number":"8.9A-615","catch_line":"Application of proceeds of disposition; liability for deficiency and right to surplus","url":"\/8.9A-615\/","token":"8.9A\/6\/1\/8.9A-615","metadata":false},{"id":58094,"structure_id":15263,"section_number":"8.9A-616","catch_line":"Explanation of calculation of surplus or deficiency","url":"\/8.9A-616\/","token":"8.9A\/6\/1\/8.9A-616","metadata":false},{"id":70895,"structure_id":15263,"section_number":"8.9A-617","catch_line":"Rights of transferee of collateral","url":"\/8.9A-617\/","token":"8.9A\/6\/1\/8.9A-617","metadata":false},{"id":74054,"structure_id":15263,"section_number":"8.9A-618","catch_line":"Rights and duties of certain secondary obligors","url":"\/8.9A-618\/","token":"8.9A\/6\/1\/8.9A-618","metadata":false},{"id":82499,"structure_id":15263,"section_number":"8.9A-619","catch_line":"Transfer of record or legal title","url":"\/8.9A-619\/","token":"8.9A\/6\/1\/8.9A-619","metadata":false},{"id":83620,"structure_id":15263,"section_number":"8.9A-620","catch_line":"Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral","url":"\/8.9A-620\/","token":"8.9A\/6\/1\/8.9A-620","metadata":false},{"id":69990,"structure_id":15263,"section_number":"8.9A-621","catch_line":"Notification of proposal to accept collateral","url":"\/8.9A-621\/","token":"8.9A\/6\/1\/8.9A-621","metadata":false},{"id":87445,"structure_id":15263,"section_number":"8.9A-622","catch_line":"Effect of acceptance of collateral","url":"\/8.9A-622\/","token":"8.9A\/6\/1\/8.9A-622","metadata":false},{"id":76014,"structure_id":15263,"section_number":"8.9A-623","catch_line":"Right to redeem collateral","url":"\/8.9A-623\/","token":"8.9A\/6\/1\/8.9A-623","metadata":false},{"id":86883,"structure_id":15263,"section_number":"8.9A-624","catch_line":"Waiver","url":"\/8.9A-624\/","token":"8.9A\/6\/1\/8.9A-624","metadata":false}],"previous_section":{"id":87445,"structure_id":15263,"section_number":"8.9A-622","catch_line":"Effect of acceptance of collateral","url":"\/8.9A-622\/","token":"8.9A\/6\/1\/8.9A-622","metadata":false},"next_section":{"id":86883,"structure_id":15263,"section_number":"8.9A-624","catch_line":"Waiver","url":"\/8.9A-624\/","token":"8.9A\/6\/1\/8.9A-624","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.9A-623\/","history_text":"

This law was first created in 1964. The record of its establishment is cataloged in chapter 219 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1964 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2000, chapter 1007<\/a>.<\/p>","references":[{"id":59465,"section_number":"6.2-2401","catch_line":"Securitization transactions; no interest retained by transferor","order_by":null,"url":"\/6.2-2401\/"},{"id":74406,"section_number":"8.9A-602","catch_line":"Waiver and variance of rights and duties","order_by":null,"url":"\/8.9A-602\/"},{"id":83544,"section_number":"8.9A-614","catch_line":"Contents and form of notification before disposition of collateral; consumer-goods transaction","order_by":null,"url":"\/8.9A-614\/"},{"id":86883,"section_number":"8.9A-624","catch_line":"Waiver","order_by":null,"url":"\/8.9A-624\/"}],"refers_to":[{"id":78656,"section_number":"8.9A-607","catch_line":"Collection and enforcement by secured party","order_by":null,"url":"\/8.9A-607\/"},{"id":83035,"section_number":"8.9A-610","catch_line":"Disposition of collateral after default","order_by":null,"url":"\/8.9A-610\/"},{"id":63326,"section_number":"8.9A-615","catch_line":"Application of proceeds of disposition; liability for deficiency and right to surplus","order_by":null,"url":"\/8.9A-615\/"},{"id":87445,"section_number":"8.9A-622","catch_line":"Effect of acceptance of collateral","order_by":null,"url":"\/8.9A-622\/"}],"permalink":{"id":284385,"object_type":"law","relational_id":76014,"identifier":"8.9A-623","token":"8.9A\/6\/1\/8.9A-623","url":"\/8.9A-623\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.9A-623\/","token":"8.9A\/6\/1\/8.9A-623","dublin_core":{"Title":"Right to redeem collateral","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.9A-623","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> Persons that may redeem. A debtor, any secondary obligor, or any other secured party<\/span> or lienholder may redeem collateral<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> Requirements for redemption<\/span>. To redeem collateral<\/span>, a person shall tender: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> fulfillment of all obligations secured by the collateral<\/span>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> the reasonable expenses and attorney’s fees described in § 8.9A-615<\/a> (a) (1). <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

c.<\/span> When redemption<\/span> may occur. A redemption<\/span> may occur at any time before a secured party<\/span>: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> has collected collateral<\/span> under § 8.9A-607<\/a>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> has disposed of collateral<\/span> or entered into a contract<\/span> for its disposition<\/span> under § 8.9A-610<\/a>; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> has accepted collateral<\/span> in full or partial satisfaction of the obligation it secures under § 8.9A-622<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nRIGHT TO REDEEM COLLATERAL (\u00a7 8.9A-623)\n\na. Persons that may redeem. A debtor, any secondary obligor, or any other\nsecured party or lienholder may redeem collateral.\n\nb. Requirements for redemption. To redeem collateral, a person shall tender:\n\n 1. fulfillment of all obligations secured by the collateral; and\n\n 2. the reasonable expenses and attorney’s fees described in §\n 8.9A-615 (a) (1).\n\nc. When redemption may occur. A redemption may occur at any time before a\nsecured party:\n\n 1. has collected collateral under § 8.9A-607;\n\n 2. has disposed of collateral or entered into a contract for its disposition\n under § 8.9A-610; or\n\n 3. has accepted collateral in full or partial satisfaction of the obligation\n it secures under § 8.9A-622.\n\nHISTORY: 1964, c. 219, \u00a7 8.9-506; 2000, c. 1007.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}