Redemption and Deficiency Judgments in North Dakota
Whether you can buy back your home after a foreclosure sale in North Dakota, and whether the lender can sue for what's still owed.
Short answer: Yes. A party to the foreclosure action (or a successor) may redeem within 60 days after the sheriff's sale, except for abandoned property and agricultural land. N.D.C.C. §§ 32-19-18, 32-19-06
| Redemption after the sale | Yes. A party to the foreclosure action (or a successor) may redeem within 60 days after the sheriff's sale, except for abandoned property and agricultural land. Agricultural land may be redeemed within 365 days after the summons and complaint are filed (or the first publication of notice by advertisement), but not earlier than 60 days after the sale. The owner has the first right to redeem by paying the sale bid plus interest at the mortgage rate. During the redemption period the owner is generally entitled to possession of the property. Source: N.D.C.C. §§ 32-19-18, 32-19-06 |
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| Deficiency judgments | Not for most owner-occupied homes. A lender may not obtain a deficiency judgment in a foreclosure of residential property with four or fewer units, on up to 40 contiguous acres, containing a residence the owner occupies as a homestead. For agricultural land over 40 acres, a deficiency is limited to the difference between the debt and the land's fair market value when the action began; in other cases it is limited to the difference between a court-appointed appraiser's value and the amount due. Source: N.D.C.C. § 32-19-03 |
More North Dakota foreclosure & homeowner law
- How Foreclosure Works in North Dakota
- Getting Your Home Back After a Tax Sale in North Dakota
- All North Dakota foreclosure & homeowner law rules
FAQ
Is there a right of redemption after foreclosure in North Dakota?
Yes. A party to the foreclosure action (or a successor) may redeem within 60 days after the sheriff's sale, except for abandoned property and agricultural land. Agricultural land may be redeemed within 365 days after the summons and complaint are filed (or the first publication of notice by advertisement), but not earlier than 60 days after the sale. The owner has the first right to redeem by paying the sale bid plus interest at the mortgage rate. During the redemption period the owner is generally entitled to possession of the property.
Can the lender come after you for the rest of the loan after foreclosure in North Dakota?
Not for most owner-occupied homes. A lender may not obtain a deficiency judgment in a foreclosure of residential property with four or fewer units, on up to 40 contiguous acres, containing a residence the owner occupies as a homestead. For agricultural land over 40 acres, a deficiency is limited to the difference between the debt and the land's fair market value when the action began; in other cases it is limited to the difference between a court-appointed appraiser's value and the amount due.
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.