What Is Redemption Period?
The redemption period is a second chance built into some states' foreclosure laws. During it, the original homeowner can buy back the property by paying the redemption amount in full.
Michigan's MCL § 600.3240 provides several possible periods; six months is common but not universal. Tennessee Title 66, Chapter 8 provides redemption for specified sales, while § 66-8-101 permits express waiver in the deed. Florida Stat. § 45.0315 allows redemption until the later of the certificate-of-sale filing or the time stated in the judgment, order, or decree.
Always use the recorded deed, court record, sale documents, and current statute to identify the controlling deadline.
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