A sheriff's sale is a public auction at which property that has been repossessed is sold by court order in order to compensate unpaid creditors.
What is the redemption period for a sheriff sale in Ohio?
The redemption period is the time between the sale of the home at the auction, and the confirmation. But you need to act quickly: This time period may be as long as 90 days, or as brief as just a day or two.
How long is the period of redemption?
After a property is sold at a sheriff's sale (foreclosure sale), there is a period of time referred to as the “redemption period” during which you still have some rights. For most properties it is a six month period.
What is the redemption period for foreclosure in Michigan?
Redemption Period – starts day of Sheriff Sale -Six (6) months is most common. -If the amount claimed to be due on the mortgage at the date of foreclosure is less than 2/3 of the original indebtedness, the redemption period is 12 months.
How long after sheriff sale can I move out in NJ?
For 10 days after the sale, you have the option to redeem the property by paying the final judgment amount. 2-5 months left in the property. Once the deed transfers you are no longer the owner of the property.
What happens to liens after sheriff sale Ohio?
What happens to liens on the property? Liens are "Marshaled" (placed in order and paid in order), and paid from the sale proceeds. A "Deficiency Judgment" is granted to the Plaintiff (Lien holder) against the Defendant (Homeowner) if enough money is not generated at the sale. The liens are then canceled.