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Cisco ISD

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CISD

REDEMPTION CLAUSE

 

Property may be redeemed within six months after the date on which the purchaser’s deed was filed for record by paying the purchaser an amount equal to the greater of the seizure or judgment amount and costs or the amount the purchaser bid for the property, plus an amount equal to the sum of the deed recording fee and an amount equal to 25 percent of the aggregate total. 

 

Property that was the owner’s homestead or was designated for agricultural use may be redeemed within two years after the date on which the taxing unit files for record by paying the person who purchased the property from the taxing unit the amount the purchaser paid for the property, the amount of the fee for filing the purchaser’s deed for record, the amount paid by the purchaser as taxes penalties interest, and costs on the property, plus redemption premium of 25 percent of the aggregate total if the property is redeemed in the first year of the redemption period or 50 percent of the aggregate total if the property is redeemed in the second year of the redemption period.