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Section I   The Right of Redemption

Revised Laws of Saint Lucia (2021)

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Section I   The Right of Redemption

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    1456.   The right of redemption stipulated by the seller entitles him or her to take back the thing sold upon restoring the price of it, and reimbursing to the buyer the expenses of the sale and the costs of all necessary repairs, and also the costs of such improvements as have increased the value of the thing, to the amount of such increased value.

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    The seller cannot have possession of the thing until he or she has fulfilled all these obligations or the part of such obligations as fixed by article 1460B. (Amended by Act 34 of 1956)

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    1457.   When the seller takes back the property under his or her right of redemption, he or she receives it free from all incumbrances with which the buyer may have charged it.

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    1458.   The right of redemption cannot be stipulated for a term exceeding 10 years.

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    If it be stipulated for a longer term, it is reduced to the term of 10 years.

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    1459.   The stipulated term cannot be extended by the Court. (Substituted by Act 34 of 1956)

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    1460.   If the seller fail to exercise his right of redemption within the stipulated term the buyer remains absolute owner of the thing sold, if, at least 60 days prior to the expiration of the stipulated term, he or she has put the seller in default to exercise his or her right of redemption; otherwise, such right subsists until the expiration of the 60 days following that on which the buyer has put the seller in default to exercise such right.

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    The seller cannot renounce such putting in default. (Substituted by Act 34 of 1956)

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    1460A.   If, in the 60 days from the putting in default, the seller satisfies the obligations of article 1456, he or she takes the thing back and, in the case of an immovable or an immovable right, the buyer shall be bound to grant him or her a deed of retrocession. (Added by Act 34 of 1956)

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    1460B.   If the thing sold is an immovable and if, within the delay of article 1460A, the seller satisfies, to the extent of seventy-five per cent. or more, the obligations mentioned in article 1456, he or she likewise takes back the thing, but burdened, from the date of the sale with right of redemption, with a hypothec in favour of the buyer guaranteeing the payment of the balance of such obligation, which is converted into a claim of the buyer against the seller.

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    1460C.   

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      (1)     The buyer is bound to give the seller who has satisfied the obligations of article 1460B a deed of retrocession of the thing.

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      (2)     The seller, on his or her part, is obliged to give the buyer a deed granting a hypothecary obligation on the thing for the balance of such obligations.

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      (3)     This deed of obligation or the judgment which takes its place shall be registered within 30 days from its date.

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           (Added by Act 34 of 1956)

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    1461.   The term runs against all persons, including minors and those otherwise incapable in law, the latter, however, having such recourse as they may be entitled to.

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    1462.   The seller of immovable property may exercise his or her right of redemption against a second buyer, although the right be not declared in the second sale.

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    1463.   The buyer of property, subject to a right of redemption, holds all the rights which the seller had in it. He or she has right of prescription against the true proprietor and against those who have claims and hypothecs upon it.

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    1464.   He or she may claim discussion against the creditors of the seller.

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    1465.   If several persons sell conjointly, and by one contract, an immovable which is their common property, with a right of redemption, each of them can exercise his right for the part only which belonged to him or her.

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    1466.   The rule declared in the last preceding article applies also if one seller of an immovable have left several heirs; each of the coheirs can exercise the right of redemption for the part only which he or she has in the succession of the seller.

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    1467.   When under either of the two last preceding articles, the buyer is sued for the redemption of part of the property, he may require the plaintiff to take back the whole of the property. If there be refusal or failure to take it back, the suit is dismissed.

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    1468.   If the sale of an immovable belonging to several owners be made not conjointly but by each of them of his or her part only, each may exercise the right of redemption for the portion which belonged to him or her, and the buyer cannot compel him or her to take back the whole.

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    1469.   If an immovable have been sold to several buyers, or to one buyer who leaves several heirs, the right of redemption can be exercised against each of the buyers or coheirs for his or her part only; but if there have been a partition of the property among the coheirs, the right may be exercised for the whole property against any one of them to whom it has fallen.

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