Statutory Redemption Period


Definition of "Statutory redemption period"

Sandy Legere
  Coldwell Banker Paradise

Limited period of time granted by state law to an individual who has had his or her property foreclosed on and sold to regain possession of the property by repaying the debt that was defaulted on.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Valued Policy

Policy that pays a specified sum not related in any way to the extent of the loss. The term applies ...

Involuntary Alienation

Loss of property through attachment, condemnation, foreclosure, sale for taxes or other involuntary ...

Contingency Planning

Considering future occurrences that may possibly arise. ...

Contract

In insurance, agreement between an insurer and an insured under which the insurer has a legally enfo ...

Driving While Intoxicated (dwi)

Term for operating an automobile while under the influence of alcoholic beverages so as to be unable ...

Risk Classification

Analysis of uncertainty of financial loss. This classification can be according to whether a risk is ...

Related Real Estate FAQ

What Is An APR And What Does It Include?

An APR stands for an ANNUAL PERCENTAGE RATE. This rate includes the costs of any points paid, mortga ...

What Is A Balloon Mortgage?

A type of mortgage in which the loan amount is amortized over the full length of the loan (usually 3 ...

What Is A Buyer's Agent?

On most transactions, there is usually a listing agent and a selling agent. The selling agent is som ...

What Is An Adjustable-rate Mortgage (ARM)?

A type of mortgage in which the interest rate is keyed to a certain economic index and is adjusted a ...

What Is Depreciation?

Depreciation is a decline in the value of property due to general wear and tear, or is also known as ...

What Is A Loan-to-value (LTD) Ratio?

A loan-to-value ratio is used by lenders to state how much you have financed. If you put down 20 per ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Home Prices - The Extra Costs What Must I Disclose When Selling My Home? Mortgage Loan Types Short Sale Homes How is Square Footage Determined?

FAQ

What do I need to know about Group Health Insurance? What is a closing? What type of a home is a condominium? What is a proprietary lease? What is a lien?