In Vermont's strict foreclosure process, the redemption period is:
Correct Answer
C) Set by the court, commonly ranging from 6 months to 1 year
Under Vermont's strict foreclosure process (12 V.S.A. § 4528), the court sets the redemption period rather than a fixed statutory period applying automatically. The court-ordered redemption period commonly ranges from 6 months to 1 year, during which the borrower may redeem the property by paying the full amount owed. If the borrower does not redeem within the court-set period, title passes directly to the lender without a public sale.
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Related Concepts
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