What is the maximum term for an installment redemption?

What is the maximum term for an installment redemption?

• A. 3 years.
• B. 5 years.
• C. 1 year.
• D. 10 years.

Answer: (A)

An installment redemption allows a property owner to redeem after a tax sale by paying the amount due in installments, rather than in one lump sum. The statute sets a three-year cap on how long those installments can run, balancing a reasonable timeframe for the owner with a timely path for the municipality to recover owed taxes. That’s why the maximum term is three years—the other options either exceed the allowed limit or fall short of what the law permits. If the payments are completed within that period, the redemption is granted and the lien is satisfied.

An installment redemption allows a property owner to redeem after a tax sale by paying the amount due in installments, rather than in one lump sum. The statute sets a three-year cap on how long those installments can run, balancing a reasonable timeframe for the owner with a timely path for the municipality to recover owed taxes. That’s why the maximum term is three years—the other options either exceed the allowed limit or fall short of what the law permits. If the payments are completed within that period, the redemption is granted and the lien is satisfied.