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Pursuant to Minnesota Statutes, most properties sold at a mortgage foreclosure sale can be redeemed by the mortgagor. The published Notice of Mortgage Foreclosure Sale usually contains a paragraph indicating the length of the redemption period. Minnesota Statutes Chapters 580 - 582 regulate these redemptions.
A mortgagor may redeem from either the Ramsey County Sheriff's Office or from the purchaser at the sale.
If the redemption is made through the Ramsey County Sheriff's Office, a non-refundable $200 fee for research and preparation must be paid. Law firm and title company checks are accepted. All others must pay with cash or certified funds. The following information must be submitted along with the fees:
- Name of mortgagor
- Name of the party redeeming, if not the mortgagor
- Date of sale
- Date of redemption
- Address of property
- Name of person to contact with the redemption figures (phone and fax numbers)
Redemption by Mortgagor (Recorded Fee Owner)
If a mortgagor wishes to redeem through the Sheriff's Office, it is imperative that the mortgagor contact the Ramsey County Sheriff's Office at 651-266-9336 with as much advance notice as possible prior to the anticipated redemption to confirm the mortgagor's intent to redeem and to obtain updated payoff information. This additional time is required for research of the recorded documents and preparation of the certificate. It will also allow time to contact the redeeming party if additional data or documents are required.
The amount of the redemption payment is determined by the following:
- Amount bid at the foreclosure sale
- Interest accruing from the date of sale to the date of redemption. (This is calculated at the rate of interest on the mortgage.)
- Additional amounts paid by the purchaser at the foreclosure sale. (These amounts may include insurance, taxes, assessments, etc.) The purchaser must present an affidavit of additional amount of redemption to the Sheriff and record it with the County Recorder/Registrar of Titles within the listed redemption period in order to collect those amounts as part of the redemption.
- Upon receipt of $50 payment for the certificate, the Ramsey County Sheriff's Office will issue a Certificate of Redemption.
Redemption by Other Parties
If the mortgagor does not redeem during the redemption period, persons other than the mortgagor may redeem.
All redemption documents must be filed with the Sheriff's Office as soon as they have been filed with the recorder or registrar, including recorded copies of the underlying lien and Notice of Intent to Redeem. For each Notice of Intent to Redeem there is a $100 filing fee.
Redemption Fees
Fees for redemption are established by the Ramsey County Board, pursuant to State Statute.
- Preparation and Research fee - $200.00 non-refundable
- Certificate - $50.00
- Notice of Intent to Redeem - $100.00
- Affidavit of Additional Amount Due - $20.00
- Document Review fee - $20.00
The fees for redemption must be paid before a Certificate of Redemption is issued.
