§ 581.10 — Redemption by Mortgagor, Creditor
Plain-Language Summary
This section gives the homeowner the right to redeem (buy back) the property after a judicial foreclosure sale within the time specified by law. The homeowner must pay the sale price plus interest. Creditors with liens can also redeem in a specific order.
581.10 REDEMPTION BY MORTGAGOR, CREDITOR.
The mortgagor, or those claiming under the mortgagor, within the time specified in section 580.23 or 582.032, whichever applies, after the date of the order of confirmation, may redeem the premises sold, or any separate portion thereof, by paying the amount bid therefor, with interest thereon from the time of sale at the rate stated in the certificate of sale or, if no rate is provided in the certificate of sale, at the rate of six percent per annum, together with any further sum which may be payable pursuant to sections 582.03 and 582.031. Creditors having a lien may redeem in the order and manner specified in section 580.24.
History:
(9643) RL s 4496; 1967 c 248 s 4; 1986 c 444; 1Sp1986 c 3 art 1 s 82; 1989 c 328 art 3 s 10; 2000 c 320 s 7; 2008 c 341 art 5 s 20
History: History: (9643) RL s 4496; 1967 c 248 s 4; 1986 c 444; 1Sp1986 c 3 art 1 s 82; 1989 c 328 art 3 s 10; 2000 c 320 s 7; 2008 c 341 art 5 s 20