§ 25-1530.Foreclosure; redemption of land from levy and sale; rights of mortgagor; terminated, when.

Section 25-1530 gives a mortgagor a window to save the property even after a foreclosure decree and a sheriff’s sale. Under subsection (1), the owner of real estate against which a court has rendered a foreclosure decree, or which has been levied on to satisfy any judgment or decree, can redeem it from the lien of that decree or levy at any time before the sale is confirmed by a court of competent jurisdiction — by paying into court the full amount of the decree or judgment, along with interest and costs.

If the land has already been sold to someone other than the plaintiff, redemption costs more than just the debt. The redeeming owner must also pay the purchaser twelve percent interest on the purchase price, running from the date of sale to the date of redemption, or deposit that amount with the clerk of the court that rendered the decree or judgment. That payment compensates the purchaser for the time and money tied up in a sale that redemption then unwinds.

Subsection (2) addresses what happens to the mortgagor’s title in the meantime. Subject to the redemption right in subsection (1) and to confirmation of the sale under section 25-1531, all right, title, interest, and claim of the mortgagor and successors in interest — including anything acquired after the mortgage was signed — is deemed terminated as of the moment the sheriff or master commissioner accepts the highest bid at the sale. In practice, that means the mortgagor’s ownership is cut off at the bid, but the statute keeps the door open through redemption or through the court declining to confirm the sale.