The right of an owner to redeem or reclaim real estate by paying the debt or charge (such as mortgage or tax lien) after default, together with interest and costs. Specifically, equity of redemption is the right to redeem the property after default but before foreclosure. Statutory right-of-redemption refers to the right to redeem the property after foreclosure, or other enforcement action, within a certain time specified by statute. In Colorado, a mortgagor has a statutory right to redeem property any time within 75 days (residential) or six months (agricultural) after foreclosure or three years after a tax sale.