Foreclosure of a Mortgage

A sheriff's deed is the deed given at a sheriff's sale when the foreclosure of a mortgage has taken place. Once the sale has taken place, the sheriff's deed is recorded in the Register of Deeds Office.

Redemption Period

A redemption period is stated in a sheriff's deed and is the time in which the property may be redeemed if the amount paid for the sheriff's deed (plus any applicable interest or fees), is paid in full. If the redemption period ends without this payoff, the purchaser of the sheriff's deed is now the owner of  the property.

For more Sheriff Foreclosure Sale information go to:
http://www.grandtraverse.org/1807/Sheriff-Foreclosure-Sale