North Dakota Foreclosure Laws

All foreclosures in North Dakota must be pursued through the court system. North Dakota foreclosure law requires that the lender give the borrower (homeowner) notice of their intent to foreclose no less than 30 days before beginning foreclosure proceedings. If this time period expires, and the homeowner has not paid their default debt, the lender may file a suit in court (known as a Lis Pendens).

The court will then allow the homeowner a short time to pay what it assesses to be the debt owed to the lender. If the homeowner still fails to provide payment, the court can rule against them and put the property up for sale. The homeowner can halt the foreclosure process at any point up until the date of the sale by paying off the full amount of the default debt in addition to any interest gathered.

North Dakota foreclosure law calls for two months to pass after the initial ruling before the sale can occur. In addition, a Notice of Sale must run for a number of weeks in a local newspaper, the last publication occurring no more than ten days before the sale will take place.

The foreclosure sale is conducted by the county Sheriff, and run in the style of an auction. The winning bidder receives a Certificate of Sale once they have provided payment. Generally, the original homeowner is allowed one year in order to redeem full ownership by paying the full sale price of the property in addition to any other fees or costs. Some mortgages may stipulate that this period only last for six months. In either case, once the allotted redemption period has passed, the Sheriff transfers full ownership to the winning bidder in the form of a deed to the property.

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