Foreclosure would terminate which right?

Foreclosure would terminate which right?

• A. Statutory redemption
• B. Equitable right of redemption
• C. Lifeline right
• D. Lien priority

Answer: (B)

Foreclosure ends the borrower's ability to redeem the property before the sale. The equitable right of redemption is the pre-sale remedy that lets a borrower stop the foreclosure by paying the full debt (plus costs) within a set period. Once foreclosure proceeds to a sale, that option to redeem is extinguished, so the equitable right is terminated. The other terms don’t describe a pre-sale redemption right: a lifeline right isn’t a standard foreclosure term, and lien priority refers to who gets paid first from sale proceeds rather than a redemption option. (Some jurisdictions may recognize statutory redemption after the sale, but the equity of redemption ends with foreclosure.)

Foreclosure ends the borrower's ability to redeem the property before the sale. The equitable right of redemption is the pre-sale remedy that lets a borrower stop the foreclosure by paying the full debt (plus costs) within a set period. Once foreclosure proceeds to a sale, that option to redeem is extinguished, so the equitable right is terminated. The other terms don’t describe a pre-sale redemption right: a lifeline right isn’t a standard foreclosure term, and lien priority refers to who gets paid first from sale proceeds rather than a redemption option. (Some jurisdictions may recognize statutory redemption after the sale, but the equity of redemption ends with foreclosure.)