The right of the owner to reclaim property after sale is called what?

• A. Redemption
• B. Reclamation
• C. Repossession
• D. Withdrawal

Answer: (A)

Redemption is the right of the owner to reclaim property after it has been sold by paying the debt owed, plus any interest and costs, within a defined period. This concept exists in foreclosure and secured lending to give the debtor a chance to stop or undo the transfer by curing the default and tendering the required funds.

Reclamation is a more general term for reclaiming property and isn’t tied to the sale process. Repossession describes the creditor taking back the property, not the owner reclaiming it after sale. Withdrawal isn’t used in this context.