Purchases under the Jones Act must foreclose the right to redemption within how many years from the date of confirmation of sale by the governing body, or the assignment is what?

• A. 1 year; void
• B. 2 years; void
• C. 3 years; void
• D. 2 years; valid

Answer: (B)

The important rule here is that the right to redeem after a Jones Act sale must be extinguished within a fixed period after the sale is confirmed by the governing body. Specifically, the redemption right must be foreclosed within two years from that confirmation date. If this two-year window passes without foreclosure of the redemption, the assignment loses its validity. This two-year rule provides finality and certainty of title for the buyer, preventing perpetual challenges to the sale. Shorter or longer timeframes aren’t allowed by the statute, which is why the outcome is that the assignment is void if redemption isn’t foreclosed within two years.