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RA 11057 (Personal Property Security Act) Section 45

Right of Redemption.

Section 45

SEC. 45. Right of Redemption. - (a) Any person who is entitled to receive a notification of disposition in accordance with this Chapter is entitled to redeem the collateral by paying or otherwise performing the secured obligation in full, including the reasonable cost of enforcement. (b) The right of redemption may be exercised, unless: (1) The person entitled to redeem has not, after the default, waived in writing the right to redeem; (2) The collateral is sold or otherwise disposed of acquired or collected by the secured creditor or until the conclusion of an agreement by the secured creditor for that purpose: and (3) The secured creditor has retained the collateral.

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Other provisions in CHAPTER 6

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of 2026-07-04

CitationRA 11057 (Personal Property Security Act) Section 45 (LawPlayer, data as of 2026-07-04)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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