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Real Estate Market › Right of Redemption

Cadwalader, Wickersham & Taft LLP

DRANO Revisited: Further Updates on the Doctrine of Clogging the Equity of Redemption

Cadwalader, Wickersham & Taft LLP on

On June 2, 2020, in HH Mark Twain LP v. Acres Capital Servicing LLC, the Supreme Court of the State of New York (the “Court”) denied the defendant’s motion to dismiss the plaintiff’s “clogging” claim, thereby providing a...more

Burr & Forman

Statutory Right of Redemption Must Be Strictly Construed

Burr & Forman on

In Palm-Aire Vill. Private Homes Townhouse Park Bd., Inc. v. Epstein, No. COSO14-011561 (Fla. Cir. Ct. May 18, 2015), the Court was faced with the issue of whether the Homeowner successfully exercised his right of redemption...more

Burr & Forman

Recent Developments Concerning the Right of Redemption Relating to Homestead Property: Act of Apr. 23, 2015, Alabama Senate Bill...

Burr & Forman on

Under current Alabama law, an interested party (e.g., mortgagor, junior mortgagor, judgment creditor) may redeem real property sold at foreclosure within one (1) year of the date of the foreclosure sale. See ALA.CODE...more

Burr & Forman

Alabama Legislature Amends Redemption Statute

Burr & Forman on

The Alabama Legislature recently amended sections 6-5-248, 6-5-252, and 8-1-172 of the Alabama Code, which govern redemption in the State of Alabama. Prior to the amendments, the redemption period for all real property was...more

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