What are the requirements for redemption of an outstanding debt?
Alberta, Canada
The following excerpt is from Bank of British Columbia v. Louden, 1987 CanLII 3552 (AB QB):
Briefly, Jessel, M.R., in Campbell v. Holyland stated the requisites for permitting redemption are: 1. The application must be made in a reasonable time. 2. How does the property compare in value to the debt? 3. What is the status of the purchaser?
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