Can a property owner whose property was sold at an auction get that property back?
Yes. A person can redeem the foreclosed property within six months after the purchaser’s deed is filed for record. The old owner must pay the new owner the purchase bid for the property, plus recording fees, amount of any taxes, penalties, interest and costs on the property, plus 25 percent of the aggregate total. If the property was a residence homestead or land designated agricultural use when the lawsuit was filed, the old owner may redeem the property within two years from the date the deed was recorded. The first year includes 25 percent of the aggregate total; the second year is at 50 percent of the total.
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