Stamate v. Peterson

Grantees of certain mortgage debtors, whose land had been sold on foreclosure, appeal from the order directing the sheriff to execute a deed to the mortgagee-purchasers. Error is assigned to the trial court’s refusal to honor a purported notice of intent to redeem within one year.

The mode of redeeming is set forth’in OPS 23.570. The right to redeem is strictly statutory, equitable rights of the mortgagors having been extinguished by the foreclosure suit. Redemption, therefore, must be pursued in accordance with the applicable statutes, and not other-wise. See Herrmann v. Churchill, 235 Or…