Construction Liens – Redemption By The Property Owner
Can a property owner redeem the property after the court enters a judgment of foreclosure of a construction lien?
Yes, property subject to a construction lien can be redeemed by the owner. Under Florida Statutes Section 713.26, the right of redemption exists in favor of the person whose interest is sold and may be exercised in the same manner as is provided for redemption of real property from sales under mortgages. Thus, if the owner pays off the amount of the construction lien before a bidder wins at the foreclosure auction, the owner has redeemed the property. The owner will keep title to the property and it will be free of the construction lien.