certificate of redemption

noun

  • Real Estate Law
  • Property Law
  • Debtor-Creditor

Definitions of certificate of redemption

  • (US) an official document confirming that you have paid all outstanding property taxes and fines associated with a property that has been subjected to foreclosure (=the process of forcing the sale of property because the owner is not able to pay back debts relating to that property). A certificate of redemption allows the former owner to regain ownership of the property after foreclosure but before an auction sale (=the sale of an asset such as a piece of real property or a business to the highest bidder).

    The Sheriff's Office will issue a Certificate of Redemption upon receipt of the full amount of the redemption payment.

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Phrase Bank for certificate of redemption

Additional Notes for certificate of redemption