Redeemable deed
A hybrid: the winning bidder receives a deed at the sale, but the former owner keeps a window to buy it back — usually for the purchase price plus a fixed penalty, not annualized interest. Texas and Georgia are the two most common examples.
See how this plays out in a specific state: browse all 50 states, or check the full glossary for related terms.
General definition — exact terminology and mechanics vary by state and county. Always confirm against the specific county's own auction notice before bidding.