What is a right of redemption?
The right of redemption is the statutory period in Florida during which a homeowner can pay off the full outstanding debt to reclaim their property after a foreclosure judgment but before the foreclosure sale is conducted.
Under Florida law, a homeowner does not lose the property the moment a foreclosure judgment is entered. After the court issues a final judgment of foreclosure, state statute creates a redemption period during which the homeowner (or certain other parties with an interest in the property) can reclaim full ownership by paying off the entire outstanding balance, including principal, interest, court costs, and attorney fees.
In Florida, this redemption period typically runs until five days before the scheduled foreclosure sale. This window gives homeowners a final opportunity to stop the sale by making a full payment to satisfy the debt. Once the redemption period expires and the foreclosure sale occurs, the right to redeem is lost and the property passes to the winning bidder.
The right of redemption matters because it provides an exit path for homeowners who may find themselves able to catch up on their debt after the judgment but before the auction. It also protects liens and other interests in the property by giving all parties a defined timeframe to act. Many homeowners work with foreclosure defense attorneys to understand whether redemption is feasible and to ensure they meet all requirements if they choose to exercise it. The mechanics of redemption, including where and how to submit payment, vary by county and circumstance, making legal guidance important for successful execution.