Final answer:
The right for a mortgagor to reclaim their foreclosed property by fulfilling certain conditions, including payment of the debt and associated costs, is known as the right of redemption.
Step-by-step explanation:
The right for a mortgagor to redeem his or her property after a foreclosure sale is known as the right of redemption. This legal right allows the original owner of the property to reclaim it under certain conditions, usually by paying off the full amount of the debt, including any additional costs incurred due to the foreclosure process. However, these rights and the period during which the mortgagor may exercise them, known as the redemption period, can vary greatly from state to state.