A borrower asks how long she has to buy her home back after the trustee's sale on 9 October under the power of sale. Is there a statutory right to redeem after this ordinary nonjudicial trustee’s sale?
Correct Answer
C) No redemption after a nonjudicial sale: title passes at the sale itself
A nonjudicial sale under a power of sale carries no statutory right of redemption, which is the trade for the speed of the process; redemption rights belong to judicial foreclosure. Other choices: the one-year period is the judicial foreclosure redemption; redeeming before the trustee's deed is recorded describes no right California gives after a power of sale; and 90 days is not a redemption period either. Source: California nonjudicial foreclosure; no statutory redemption
Why This Is the Correct Answer
A nonjudicial sale under a power of sale carries no statutory right of redemption, which is the trade for the speed of the process; redemption rights belong to judicial foreclosure. Other choices: the one-year period is the judicial foreclosure redemption; redeeming before the trustee's deed is recorded describes no right California gives after a power of sale; and 90 days is not a redemption period either. Source: California nonjudicial foreclosure; no statutory redemption
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