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.
More information on Kansas
foreclosure laws.
DISCLAIMER
