Minnesota Redemption Rights — Reclaiming Your Property After Sale
Reinstatement before sale and statutory redemption after sale — your rights to keep or reclaim your home in Minnesota.
Pre-sale reinstatement vs. post-sale redemption
| Reinstatement | Redemption | |
|---|---|---|
| When | Before the foreclosure sale | After the foreclosure sale |
| Amount owed | Arrears + fees + costs | Full loan balance + fees + costs |
| Available in Minnesota | Yes — before the foreclosure sale (§ 580.30) — borrower may reinstate by paying all past-due amounts, fees, and costs at any time before the sale §580.30 | Yes — 6 months after sale (for homestead property with less than 10 acres); 12 months (for non-homestead or larger properties); 5 weeks if property is abandoned and lender obtains court order §580.23 |
| Effect | Loan continues as if no default | Property returned to borrower; sale reversed |
Reinstatement
Minnesota allows reinstatement — paying all past-due amounts, fees, and costs to bring the loan current and stop the foreclosure. The deadline to reinstate is before the foreclosure sale (§ 580.30) — borrower may reinstate by paying all past-due amounts, fees, and costs at any time before the sale §580.30.
Statutory redemption
After the foreclosure sale, borrower (mortgagor), the mortgagor's personal representatives, or assigns (§ 580.23, subd. 1) may redeem the property within 6 months after sale (for homestead property with less than 10 acres); 12 months (for non-homestead or larger properties); 5 weeks if property is abandoned and lender obtains court order §580.23. To redeem, you must pay the full sale price (or the full debt, depending on state law) plus interest and costs. During the redemption period, the borrower may retain possession in some states.
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Frequently Asked Questions
General answers to common questions. Specific outcomes depend on your facts and timing.
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Related guides
- Deadline: before the foreclosure sale (§ 580.30) — borrower may reinstate by paying all past-due amounts, fees, and costs at any time before the sale
- Redemption period: 6 months after sale (for homestead property with less than 10 acres); 12 months (for non-homestead or larger properties); 5 weeks if property is abandoned and lender obtains court order
- Eligible to redeem: borrower (mortgagor), the mortgagor's personal representatives, or assigns (§ 580.23, subd. 1)