306. Persons who can redeem.

The mortgagor and all persons having any interest in the property subject to the mortgage or liable to pay the mortgage debt can redeem1.

Until he has absolutely assigned his equity of redemption, the mortgagor can redeem the mortgaged property, and a mortgagor who has entirely parted with the equity of redemption nevertheless, upon being sued for payment of the mortgage debt by the mortgagee, acquires a new right to redeem