Step 3: Two Year Redemption Period

Step Three:  Two Year Redemption Period

Once the circuit court grants General Judgment, the two-year redemption period commences.

To release your property during this period you must pay:

  • Taxes and interest for all years shown in the Judgment.

  • The 5% penalty.

  • 9% interest on the judgment amount.

  • Plus either a $50.00 redemption fee assessed in the first year of redemption OR a fee for a Lien and Encumbrances Report completed during the second year.

  • Partial payments cannot be accepted.

Only the following persons can redeem the property:

  • Person(s) with recorded legal interest in the property at the date of judgment.

  • An heir or devisee of person(s) with a legal interest in the property.

  • A holder of a lien of record on the property (i.e. mortgage company).

  • A municipal corporation with a lien on the property (i.e. city or sewer district).

During the two-year redemption period no value or name change should occur.  The owner listed in the judgment has the right of possession during the redemption period, but cannot sell the property.  If the property is damaged or destroyed in any way during the period of redemption, it may be immediately acquired by the tax collector.

NOT LATER THAN ONE YEAR BEFORE THE REDEMPTION PERIOD EXPIRES: Notification is sent to all person(s) with a legally recorded interest in the property. The tax collector is responsible for providing this notice, by regular and certified mail, noting the date the period of redemption will end. Title companies provide reports to identify the lien holders that are notified. Actual cost of the litigation reports will be charged to the property.

Additional Foreclosure Information from the Department of Revenue

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