12-1282. Time for redemption
A. The judgment debtor or his successors in interest may redeem at any time within
thirty days after the date of the sale if the court determined as part of the judgment
under which the sale was made that the property was both abandoned and not used primarily
for agricultural or grazing purposes.
B. The judgment debtor or his successor in interest may redeem at any time within
six months after the date of the sale except when the court has made the determinations
as provided in subsection A.
C. If the redemption as provided in subsection A or B is not made, the senior
creditor having a lien, legal or equitable, upon the premises sold, or any part thereof,
subsequent to the judgment under which the sale was made, may redeem within five days
after expiration of the applicable period provided in subsection A or B, and each
subsequent creditor having a lien in succession, according to priority of liens, within
five days after the time allowed the prior lienholder, respectively, may redeem by paying
the amount for which the property was sold and all liens prior to his own held by the
person from whom redemption is made, together with the eight per cent added to the amount
as provided in section 12-1285.
|