TAILIEUCHUNG - Gale Encyclopedia Of American Law 3Rd Edition Volume 9 P39

Gale Encyclopedia of American Law Volume 9 P39 fully illuminates today's leading cases, major statutes, legal terms and concepts, notable persons involved with the law, important documents and more. Legal issues are fully discussed in easy-to-understand language, including such high-profile topics as the Americans with Disabilities Act, capital punishment, domestic violence, gay and lesbian rights, physician-assisted suicide and thousands more. | 368 STAY right of a defaulting mortgagor to reclaim property by paying all past due mortgage payments anytime prior to foreclosure. Statutory redemption by contrast begins at the point of foreclosure and requires that the defaulting mortgagor pay the full foreclosure sale price. Equitable redemption is a common-law concept which means it exists as law in the form of judicial opinions. All state courts have recognized a mortgagor s right to equitable redemption. FURTHER READINGS Bauer Patrick B. 1985. Statutory Redemption Reconsidered The Operation of Iowa s Redemption Statute in Two Counties between 1881 and 1980. Iowa Law Review 70 January . Nelson Grant S. 2007. The Foreclosure Purchase by the Equity of Redemption Holder or Other Junior Interests. Missouri Law Review 72 fall . Palace Eric S. 1996. In Re BFP Just a Band-Aid Looking for a Stable Solution that Balances Creditors and Debtors Rights under Bankruptcy Code Section 548 A 2 . Annual Review of Banking Law 15 annual . Peeler Ronald L. 1986. Statutory Redemption Redemption of Property by the Debtor or Debtor s Assignee during the Exclusive Statutory Period Extinguishes a Junior Lienor s Right of Redemption. Drake Law Review 35 summer . STAY The act of temporarily stopping a judicial proceeding through the order of a court. A stay is a suspension of a case or a suspension of a particular proceeding within a case. A judge may grant a stay on the motion of a party to the case or issue a stay sua sponte without the request of a party. Courts will grant a stay in a case when it is necessary to secure the rights of a party. There are two main types of stays a stay of execution and a stay of proceedings. A stay of execution postpones the enforcement of a judgment against a litigant who has lost a case called the judgment debtor. In other words if a civil litigant wins money damages or some other form of relief he may not collect the damages or receive the relief if the court issues a stay. Under rule 62 of the .

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