Ace the NSAR Challenge 2026 – Unlock Your Real Estate Future in Nova Scotia!

The main concept is the mortgagor’s right to redeem the property. This is the equity of redemption—the borrower's ability to reclaim full ownership by paying off the debt, including principal, interest, and costs, before foreclosure or a foreclosure sale occurs. This right protects the mortgagor by allowing cure of the default and removal of the lender’s lien, restoring clear title. The other options describe remedies or actions typically associated with the lender (such as getting paid, transferring the loan, or removing the lien after payment), not the borrower’s inherent right to reclaim the property. So the right to redeem the property is the mortgagor’s fundamental entitlement.