• Recent Developments Concerning the Right of Redemption Relating to Homestead Property: Act of Apr. 23, 2015, Alabama Senate Bill No. 124, Ala. Acts, 2015-79 
  • July 14, 2015 | Author: Ryan D. Thompson
  • Law Firm: Burr & Forman LLP - Birmingham Office
  • Under current Alabama law, an interested party (e.g., mortgagor, junior mortgagor, judgment creditor) may redeem real property sold at foreclosure within one (1) year of the date of the foreclosure sale. See ALA. CODE ยงยง 6-5-248, 6-5-252. The current redemption law does not require the foreclosing entity to provide notice to the owner of a homestead property (or any type of property for that matter) being foreclosed that the owner may be able to redeem the property from foreclosure.