Redemption of real property by junior lienholder--Quit claim deed

A lienholder of record may redeem real property which has been foreclosed by a mortgagee pursuant to this chapter. The redemption shall be made pursuant to § 21-52-14 . Upon payment, the mortgagee shall convey the property by quit claim deed to the redeeming junior lienholder. Source: SL 1991, ch 185 , § 5.