What Is the Right of Redemption in a Florida Foreclosure?

The amount needed depends on the stage of the case. After a judgment, order, or decree of foreclosure is entered, redemption requires paying the amount of money specified in it. If no judgment has been entered, redemption requires tendering the performance due under the security agreement. That includes amounts due because the lender exercised a right to accelerate the loan, plus the reasonable expenses of the foreclosure incurred up to the time of the tender, including the creditor's reasonable attorney's fees.

The deadline is tied to the certificate of sale. Under Florida's judicial sale statute, the clerk must promptly file a certificate of sale after the property is sold. If no objections to the sale are filed within 10 days after that filing, the clerk files a certificate of title. A foreclosure judgment may set a later redemption time, and the later of the two controls.

The right is not limited to the borrower. The statute extends it to the holder of any subordinate interest in the property.

Notice of a pending foreclosure in the public records is explained in what a lis pendens is. Release of a paid mortgage is covered in what a satisfaction of mortgage is.