CopyCited 1 times | Published | United States Bankruptcy Court, S.D. Florida. | 51 Collier Bankr. Cas. 2d 428, 17 Fla. L. Weekly Fed. B 1, 52 U.C.C. Rep. Serv. 2d (West) 286, 2003 Bankr. LEXIS 1573
...Upon repossession, the debtor is thus left with the statutory right to redeem the repossessed vehicle and the right to recover damages if the creditor violates that right. The debtor's right to redeem may be exercised at any time before the secured party disposes of, or enters into a contract for its disposition. Fla. Stat. § 679.623....
...epossessed collateral into a meaningful ownership interest." Lewis,
137 F.3d at 1284. The Court concludes that in the instant case, the Debtors may not regain possession of their vehicle unless they redeem the vehicle as provided by Florida Statutes §
679.623....
...petition repossessed vehicle in accordance with Florida law); In re Fox,
274 B.R. 909 (Bankr.M.D.Fla.2002). B. Exercising the Right to Redeem In order to exercise the post-repossession right to redeem collateral, a debtor must comply with Fla. Stat. §
679.623 which states:
679.623....
...eral by paying the full Redemption Amount over the course of their Chapter 13 plan and thereby regain possession of the vehicle. As discussed below, the Court finds that Debtors' proposed redemption through their chapter 13 plan does not satisfy the § 679.623 requirement to "tender fulfillment of all obligations secured by the collateral", and therefore the Debtors' proposed redemption does not operate to bring the vehicle within the property of the bankruptcy estate, such that Debtors may compel its turnover....
..., and unlike the debtors in Lewis whose proposed chapter 13 plan merely tendered sixty-two cents on the dollar to creditor, the Debtors in this case plan to propose a Chapter 13 plan that will pay the full Redemption Amount as required by Fla. Stat. § 679.623....
...Eackles, 293 Ark. 149, 732 S.W.2d 477, 479 (1987)(ruling that neither debtor's verbal offer to pay nor the attorney's written offer to pay are lawful tender requiring creditor to return repossessed vehicle). The Court concludes that Florida Statutes § 679.623 requirement to "tender fulfilment of all obligations secured by the collateral" in order to redeem repossessed collateral, means to present payment of the entire balance in a lump sum. Debtor's intention to propose a Chapter 13 plan that will pay the full Redemption Amount over time is ineffective to redeem the repossessed vehicle. A mere willingness to pay is not sufficient to constitute "tender" as required by § 679.623....
...btors' redemption right requires a lump sum payment of the Redemption Amount, the Court finds that Smith prohibits redemption through the Chapter 13 plan. Permitting redemption payments over time through the Debtors' Chapter 13 plan would modify the § 679.623 requirement to "tender fulfilment of all obligations secured by the collateral" and be inconsistent with the Eleventh Circuit's ruling that a debtor may not modify a statutory right of redemption under a Chapter 13 plan....
...or sells or otherwise disposes of the vehicle. Debtor's intent to propose a Chapter 13 plan that will pay the full Redemption Amount over the course of their Chapter 13 plan is an ineffective exercise of Debtors' right of redemption under Fla. Stat. § 679.623....
...§ 679.207 has been replaced by Fla. Stat. §
679.2071. [3] Fla. Stat. § 679.504 has been replaced by Fla. Stat. §§
679.610,
679.611,
679.615,
679.617,
679.618, and
679.624 effective January 1, 2002. [4] Fla. Stat. § 679.506 has been replaced by Fla. Stat. §§
679.623 and
679.624 effective January 1, 2002....
CopyPublished | United States Bankruptcy Court, M.D. Florida | 18 Fla. L. Weekly Fed. B 319, 60 U.C.C. Rep. Serv. 2d (West) 1316, 54 Collier Bankr. Cas. 2d 1517, 2005 Bankr. LEXIS 1332, 2005 WL 1719306
...Upon dismissal, the vehicles were no longer property of the estate. Upon *235 reinstatement, the automatic stay pursuant to 11 U.S.C. § 362(a) was reimposed, and the debtor's only interest in the vehicles was a statutory right of redemption. Fla. Stat. § 679.623....
...36 other lien, in the collateral, whether or not the person is an obligor." Fla. Stat. §
679.1021(bb)(1). This change does not speak to the vehicle's ownership upon repossession. The right to redeem collateral is provided for pursuant to Fla. Stat. §
679.623....
...nd, if the creditor violates that right, the debtor may recover damages. In re Menasche,
301 B.R. 757 (Bankr.S.D.Fla.2003) (Hyman, J.). In order to redeem, the debtor must "tender fulfillment of all obligations secured by the collateral." Fla. Stat. §
679.623(2)(a)....
...§ 362 was not in effect at the time the 2002 Buick Rendezvous and the 2003 Chevrolet G2500 were repossessed. Upon reinstatement of the case on April 20, 2005, the only right the debtor retained with respect to the 2002 Buick Rendezvous and the 2003 Chevrolet G2500 was a right to redeem the vehicles pursuant to Fla. Stat. § 679.623; it is further ORDERED, ADJUDGED, and DECREED That to maintain possession of the 2002 Buick Rendezvous and the 2003 Chevrolet G2500, the debtor must tender the full redemption amount applicable to each vehicle to GTE within fourteen (14) d...
