Betty and Lydia were co-owners of a parcel of land. Last January 31, 2001, when she paid her real estate tax, Betty discovered that Lydia has sold her share to Emma on November 10, 2000. The following...

Betty and Lydia were co-owners of a parcel of land. Last January 31, 2001, when she paid her real estate tax, Betty discovered that Lydia has sold her share to Emma on November 10, 2000. The following day, Betty offered to redeem her share from Emma, but the latter replied saying that Betty’s right to redeem has already prescribed. Is Emma correct or not? Why?