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Simple English definitions for legal terms

statutory right of redemption

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A quick definition of statutory right of redemption:

Statutory Right of Redemption: This is a legal right that allows someone who has not been able to pay their mortgage to get their property back after it has been sold in a foreclosure sale. To do this, they must pay the amount they owe, including interest and other costs, and fix the problem that caused them to default on their mortgage. This right is different in each state and is not always available.

A more thorough explanation:

The statutory right of redemption is a legal right that allows a mortgagor (borrower) to recover their property after a foreclosure sale by paying the amount owed, including principal, interest, and other costs, to cure the default. This right exists in many states but is not the same in all states.

For example, if a homeowner defaults on their mortgage payments and the lender forecloses on the property, the homeowner may still have the right to redeem the property by paying the outstanding debt within a certain period of time. This right gives the homeowner a chance to keep their property and avoid losing it to foreclosure.

However, it's important to note that the specifics of the statutory right of redemption can vary depending on the state and the terms of the mortgage agreement. Some states may have a shorter redemption period or may not offer this right at all.

statutory release | statutory successor

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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