NAC375.120. “Right of redemption” defined.

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“Right of redemption” means the right to disencumber property or to free it from a claim or lien, specifically, the right, granted by statute only, to free property from the encumbrance of a foreclosure or other judicial sale or to recover the title passing thereby, by paying what is due, with interest and other costs.

[Tax Comm’n, Real Property Transfer Tax Ruling part No. 1, eff. 1-1-68]

                    
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