A sheriff’s deed is a deed that transfers or conveys title (ownership rights) in property purchased at a sheriff’s sale. A sheriff’s sale is typically ordered by a court after a person or entity fails to pay a court judgment against them (a judgment debtor) or when the property is the subject of a mortgage foreclosure.

Laws vary from state to state, but a debtor whose property is the subject of a mortgage foreclosure that was sold at a sheriff’s sale may have the right to redeem the property or the right to redemption of the property—paying the amount due and keeping the property—until confirmation of the sale is signed by the judge and filed by the court. This redemption period is usually defined by state statute and may be referred to as a statutory redemption period.

The lender (bank) that is foreclosing on the mortgage is often the high bidder that purchases the property at a sheriff’s sale. If another party is the high bidder at the sheriff’s sale, the lender (bank) may be able to get a deficiency judgment against the debtor (borrower or mortgagor) if the sale amount isn’t enough to pay the balance of the debt—depending on the state’s law.

In Michigan, a sheriff's deed is a legal document that transfers ownership of a property sold at a sheriff's sale, which is typically the result of a court-ordered sale due to a failure to pay a court judgment or a mortgage foreclosure. Michigan law provides a statutory redemption period during which the debtor can redeem the foreclosed property. This period allows the debtor to pay the full amount due to retain ownership of the property, and it lasts until the sale is confirmed by a judge and the confirmation is filed with the court. The duration of this redemption period can vary, but it is generally six months for residential properties if the amount claimed is more than two-thirds of the original mortgage balance, and one year if the amount claimed is less. For agricultural property or property over three acres, the redemption period is one year. If the property is sold for less than the amount owed, the lender may seek a deficiency judgment against the debtor to recover the remaining balance, depending on the circumstances and Michigan law.