11 U.S.C. § 722 — Redemption
submitted 48 years ago by Pub. L. 95-598 to r/title-11-BANKRUPTCY · 90 words · no verdicts yet
This section lets an individual debtor redeem certain personal, family, or household property from a lien securing a dischargeable consumer debt. The debtor must pay the lienholder the allowed secured claim secured by the lien in full.
An individual debtor* may, whether or not the debtor has waived the right to redeem under this section, redeem tangible personal property intended primarily for personal, family, or household use, from a lien securing a dischargeable consumer debt*, if such property is exempted under section 522 of this title or has been abandoned under section 554 of this title , by paying the holder of such lien the amount of the allowed secured claim* of such holder that is secured by such lien in full at the time of redemption.
An individual debtor* may, whether or not the debtor has waived the right to redeem under this section, redeem tangible personal property intended primarily for personal, family, or household use, from a lien securing a dischargeable consumer debt*, if such property is exempted under section 522 of this title or has been abandoned under section 554 of this title, by paying the holder of such lien the amount of the allowed secured claim* of such holder that is secured by such lien in full at the time of redemption.
Source credit: (Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2606; Pub. L. 109–8, title III, § 304(2), Apr. 20, 2005, 119 Stat. 79.)
- 1978Enacted · Pub. L. 95-598 · 92 Stat. 2606
- 2005Amended · Pub. L. 109-8 · 119 Stat. 79
A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-598 on 1978-11-06.
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