Harlan F. Stone

“ It is for the bankruptcy court to determine, by reference to the provisions of the bankruptcy statute, what rights created by state law-regardless of the characterization which may be applied to them by state statutes and decisions-are within the jurisdiction of the bankruptcy court. ”

“ Looking at the scope and purpose of § 75, we think petitioner's interest in the mortgaged property, whether it be denominated a property right or a privilege of redemption, is an interest intended to be subject to the court's jurisdiction and is capable of administration in a farmer-debtor proceeding. ”

“ Under § 168 of Title 47 of the Alabama Code of 1940, the purchaser at foreclosure sale is entitled to a deed immediately upon making the purchase and the deed conveys to him full legal title subject only to the right of redemption. By §§ 727 and 743 of Title 7, the mortgagor retains a right of redemption, which is 'not * * * subject to alienation', save as it may be transferred or assigned to an assignee who may redeem. ”