Statutory rights of redemption occur when?

• A. Before the foreclosure sale
• B. After the actual foreclosure sale
• C. Only during bankruptcy
• D. Only in Louisiana

Answer: (B)

The key idea is that statutory redemption rights are a post-foreclosure remedy. They come into play after the foreclosure sale has occurred, giving the debtor one last chance to reclaim the property by paying the sale price (and usually interest and costs) within a statutorily defined period. This is different from the pre-sale right called the equity of redemption, where the debtor can stop the foreclosure by paying what is due before the sale takes place. In other words, you have the chance to redeem only after the property has actually been sold at foreclosure, not before. It’s also not limited to a single state or tied to bankruptcy; most jurisdictions provide some post-sale redemption window, though the specifics can vary.