Kansas Foreclosure Law Summary
Quick Facts
- Judicial Foreclosure Available: Yes
- Non-Judicial Foreclosure Available: No
- Primary Security Instruments: Mortgage
- Timeline: Typically 120 days
- Right of Redemption: Yes
- Deficiency Judgments Allowed: Yes |
In Kansas, lenders may foreclose on
a mortgage in default by using the judicial foreclosure process.
Judicial Foreclosure
The judicial process of foreclosure, which involves filing a lawsuit
to obtain a court order to foreclose, is used when no power of sale
is present in the mortgage or deed of trust. Generally, after the court
declares a foreclosure, the property will be auctioned off to the highest
bidder.
The notice of the time and sale must be advertised once a week for three
(3) consecutive weeks, with the last publication being no more than
fourteen (14) and no less than seven (7) days before the scheduled date
of sale. Notice of the sale must also be sent to the borrower within
five (5) days of the first advertisement.
Unless otherwise ordered by the court, the sale is typically held at
the courthouse of the county in which the property resides. The sale
is by public auction to the highest bidder, who will receive a certificate
of purchase. After the sale is confirmed, the winning bidder will be
entitled to receive a sheriff's deed, which will vest good and perfect
title to the foreclosure bidder, once the borrowers right of redemption
has expired. The borrower typically has twelve (12) months from the
date of the foreclosure sale to redeem the property.
Lenders may sue to obtain a deficiency judgment for the difference between
the foreclosure sale price and the amount due on the original mortgage.
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