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 Minnesota, a sheriff's deed is a legal document that transfers ownership of a property sold at a sheriff's sale, which typically occurs due to a court-ordered foreclosure or to satisfy a court judgment. Minnesota law provides a statutory redemption period during which the debtor, whose property has been foreclosed and sold, has the right to redeem the property. This means the debtor can reclaim their property by paying the full amount owed, including any additional costs, within a specified time frame after the sale. The length of the redemption period varies depending on the circumstances of the foreclosure but is generally six months or one year. If the property is sold for less than the amount owed on the mortgage, the lender may seek a deficiency judgment against the debtor for the remaining balance, subject to Minnesota's anti-deficiency laws. It's important to note that the right to redemption ends once the sale is confirmed by the judge and the confirmation is filed with the court.