Blair Gisi featured in the Fall Edition of the USFN Report
Kansas: Creatively Using Redemption Waivers in REO
With the housing shortage continuing, some companies in Kansas are getting creative with how they are replenishing their inventory. It is becoming more and more common for title work ordered in anticipation of a foreclosure to include a recent conveyance from the borrowers to a business entity. The parties intend to convey redemption rights to that entity by virtue of a deed, given that K.S.A. §60-2414(a) provides very clearly that a "defendant owner may redeem real property" following the Sheriff’s Sale.
K.S.A §60-2414(a) also provides that: