What is the statutory period of redemption?

Question

Quizplus · Accepted Answer

The statutory period of redemption is the time allotted to a mortgagor to redeem the property even after foreclosure. This means that even after the foreclosure process has been completed, the mortgagor has a certain period of time during which they can pay the outstanding amount and regain ownership of the property. Typically, the length of the redemption period varies by state and can range from a few months to as long as a year or more.

What Is the Statutory Period of Redemption