Legal Question in Bankruptcy in Utah
right of redemption
our house went into forecloser. we had a lady that is wanting to buy our house from the bank and rent it to us. but the bank says we have 'no right to redemption'. now they want to evict us and then put the house for sale. can you please help our family? or give us some good advice
Asked on 8/14/08, 3:47 pm
1 Answer from Attorneys
Alvin Lundgren
Alvin R. Lundgren, L.C.
Re: right of redemption
The lady can buy the house and rent it back to you. However, she will need to have a contract with the bank, which allows you to stay until she closes. The right to redemption means whether you have a right to purchase back the
Answered on 8/14/08, 4:40 pm
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