Idaho Code 5-226 – Action to Redeem Mortgage
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 5-226
- action: as used in this chapter is to be construed, whenever it is necessary so to do, as including a special proceeding of a civil nature. See Idaho Code 5-240
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
An action to redeem a mortgage of real property, with or without an account of rents and profits, may be brought by the mortgagor or those claiming under him, against the mortgagee in possession, or those claiming under him, unless he or they have continuously maintained an adverse possession of the mortgaged premises for five (5) years after breach of some condition of the mortgage.