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 South Carolina, a sheriff's deed is a legal document that conveys ownership of property sold at a sheriff's sale, which typically occurs after a court orders the sale due to a failure to pay a court judgment or as a result of mortgage foreclosure. South Carolina does not provide a statutory right of redemption for the debtor once the property is sold at a sheriff's sale. This means that once the sale is confirmed by the court, the debtor does not have the right to reclaim the property by paying the debt. As for deficiency judgments, South Carolina allows lenders to seek a deficiency judgment against the borrower if the proceeds from the sheriff's sale do not cover the outstanding mortgage balance. However, the lender must file a separate lawsuit within a certain time frame after the sale to obtain a deficiency judgment. It is important for individuals involved in such proceedings to consult with an attorney to understand their rights and obligations under South Carolina law.