The right of redemption in mortgage law generally enables the mortgagor to:
Correct answer: C. Recover the property after satisfying the mortgage debt and related obligations
- A. Cancel every mortgage immediately after its creation
- B. Sell the mortgagee's property without obtaining permission
- C. Recover the property after satisfying the mortgage debt and related obligations
- D. Avoid payment of interest in every type of mortgage
Explanation
Redemption is the mortgagor's right to recover the mortgaged property by paying the amount legally due under the mortgage. The right ordinarily continues until it is lawfully extinguished.
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Civil law governs disputes involving private rights, including contracts, property, family relations, torts and compensation. The subject explains breach of duty, civil liability, damages, specific relief, injunctions and other remedies, while distinguishing private claims between individuals from criminal proceedings brought to punish offences against the state.
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