What Is the Right of Redemption?
The right of redemption is a borrower's right to save property from foreclosure by paying the full amount owed before the right is cut off. It gives a defaulting owner a final chance to cure the debt — principal, interest, and costs — and keep the property rather than lose it at a forced sale.
The Right of Redemption in Florida
Under § 45.0315, Florida Statutes, a mortgagor (or a junior lienholder) may redeem the property at any time before the later of the clerk filing the certificate of sale or the time specified in the foreclosure judgment. To redeem, the party pays the amount necessary to satisfy the judgment. Once the certificate of sale is filed, the right of redemption is terminated — Florida does not provide a lengthy post-sale redemption window for mortgage foreclosures.
Redemption in Tax Matters
- When taxes go unpaid, the owner can redeem by paying the delinquent amount
- That right continues until a tax deed is issued
- Redemption stops the loss of the property at a tax-deed sale
Related Terms
- Redemption Rights — The same right, described broadly
- Redemption Period — The window for exercising it
- Foreclosure — What redemption prevents
Barnes Walker Real Estate
Barnes Walker's attorneys advise Florida owners and lenders on foreclosure, redemption, and tax-deed matters. Request a legal inquiry for assistance.
Florida Law Reference
Fla. Stat. § 45.0315
Allows a mortgagor or junior lienholder to redeem by paying the amount due at any time before the clerk files the certificate of sale or the deadline set in the foreclosure judgment.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC