If a sheriff’s sale occurs, is the foreclosed owner sent any information as to the price of redemption or is that something they have to figure out for themselves?

Our home was foreclosed on about 10 months ago. The redemption period has ended. however we were never told what the redemption amount was, who bought the home which was the bank etc. We are also in bankruptcy, which was done to try and save the house to no avail. Could that be the reason we were never notified the home actually sold. When researching the home I found the sale had been postponed but we never received another notification that it was actually going forward with the sale. We received a letter from the banks attorneys to file notice or leave.

Asked on September 2, 2012 under Real Estate Law, Minnesota


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

I would strongly suggest that you seek help from an attorney in your area on this matter.  It is my understanding that in Minnesota - which is where you are writing from, correct? - there is a statutory right of redemption with in 6 months of sale and up to 12 months depending on the amount you owe. And your state has very strict notice requirements in foreclosure so maybe with regard to redemption as well.  Good luck.

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Under the laws of all states in this country, there can only be a redemption of a foreclosed home when the home is foreclosed upon by the county tax assessor's office via a property tax foreclosure. From what you have written, the foreclosure was via a loan by a lender which does not provide for any redemption period under the law.

If the home was sold via a foreclosure sale while you were in bankruptcy, and the lender did not get leave from the automatic stay under 11 U.S.C. section 362 to do the foreclosure, this might be a way for you to set aside the foreclosure. I suggest that you consult with a bankruptcy attorney on this subject to see if you have any legal recourse to set aside your home's foreclosure.

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