Finance
Under Idaho law, does a borrower have a right of redemption after a non-judicial trustee's sale?
AYes, for 6 months after the sale
BYes, for 1 year after the sale
CNo, there is no statutory right of redemption after a trustee's sale✓ Correct
DYes, for 90 days after the sale
Explanation
Idaho does not provide a statutory right of redemption after a non-judicial trustee's sale. Once the trustee's deed is issued, the sale is final and the former owner cannot redeem the property.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
AmortizationThe gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
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