Florida Statute 679.622 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS

Chapter 679
UNIFORM COMMERCIAL CODE: SECURED TRANSACTIONS

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F.S. 679.622

679.622 Effect of acceptance of collateral.—

(1) A secured party’s acceptance of collateral in full or partial satisfaction of the obligation it secures:

(a) Discharges the obligation to the extent consented to by the debtor;

(b) Transfers to the secured party all of a debtor’s rights in the collateral;

(c) Discharges the security interest or agricultural lien that is the subject of the debtor’s consent and any subordinate security interest or other subordinate lien; and

(d) Terminates any other subordinate interest.

(2) A subordinate interest is discharged or terminated under subsection (1), even if the secured party fails to comply with this chapter.

History.—s. 7, ch. 2001-198.

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Amendments to 679.622

Annotations, Discussions, Cases:

Cases Citing Statute 679.622

Total Results: 2

In Re Grubbs Construction Co.

328 B.R. 873, 18 Fla. L. Weekly Fed. B 373, 2005 Bankr. LEXIS 1564, 45 Bankr. Ct. Dec. (CRR) 54, 2005 WL 2001280

United States Bankruptcy Court, M.D. Florida | Filed: Aug 18, 2005 | Docket: 324278

Cited 2 times | Published

debtor's rights in the collateral." Fla. Stat. § 679.622. Both the secured party and the debtor must consent

In Re Menasche

301 B.R. 757, 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

United States Bankruptcy Court, S.D. Florida. | Filed: Nov 7, 2003 | Docket: 1666721

Cited 1 times | Published

satisfaction of the obligation it secures under § 679.622. The remaining issue is whether the Debtors may