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 Virginia, 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 sale after a judgment debtor fails to pay a court judgment or in the case of mortgage foreclosure. Virginia does not provide a statutory right of redemption for the debtor once a foreclosure sale is completed. This means that once the foreclosure sale is confirmed by the court, the debtor does not have the right to reclaim the property by paying the debt. The lender, often a bank, may purchase the property at the sheriff's sale, and if the sale does not cover the full amount of the debt, the lender may seek a deficiency judgment against the debtor to recover the remaining balance. However, Virginia law limits deficiency judgments in certain circumstances, and it is important for debtors to understand their rights and obligations under Virginia's foreclosure laws.