Hawaii Real Estate State Practice Exam

The correct outcome for Brad Wattles regarding his ability to claim the right of redemption is that he can redeem the property by paying the new owner. In the context of real estate, the right of redemption refers to the opportunity for a borrower to reclaim property after a foreclosure by paying off the debt to the current holder of the title. This principle allows individuals to recover their property before it is permanently taken away from them.

Once the property has been sold to a new owner following a foreclosure, the former owner may still have a window during which they can pay off the debt, typically to the new owner rather than the original lender. This represents an important consumer protection within real estate transactions, ensuring borrowers have a path back to ownership under specific conditions.

Looking at other options, the requirement for paying the original creditor does not apply since the focus is on the new owner in this scenario. There's also typically no loss of all rights to the property outright, as that would negate the possibility of redemption. Finally, while some jurisdictions may have periods where a redemption can be claimed after a certain time after foreclosure, a blanket five-year rule does not universally apply and depends on local laws. Thus, the ability to redeem directly with the new owner is the correct interpretation