Foreclosure of a Mortgage
A sheriff's deed is the deed given at a sheriff's sale when the foreclosure of a mortgage has taken place. Once the sale has taken place, the sheriff's deed is recorded in the Register of Deeds Office.
There is a redemption period, stated in the sheriff's deed, in which you can attempt to sell the home yourself or come up with the funds to completely pay off the amount paid for the sheriff's deed. If the redemption period ends and you have not redeemed the property, the purchaser of the sheriff's deed is now the owner of the property.
For more Sheriff Foreclosure Sale information go to: