Kansas utilizes a mortgage to secure loans with real property creating a lien interest in the
property in favor of the mortgagee. The mortgage document and Kansas statute provide a judicial
framework for the foreclosure of an owner's interest.
When the borrower defaults under the terms of the promissory note and mortgage, the mortgagee may
institute proceedings to foreclose the interest of the borrower in that property. Millsap & Singer,
LLC handles all steps in the processing of the action from first legal to the recording of the
sheriff’s deed. Optimally, Millsap & Singer, LLC accomplishes all steps up to sale date within 120
days from referral by the lender.
Required Documents:
- Promissory Note (original or copy)
- Mortgage (original or copy)
- Assignments to present holder (originals or copies)
- Account Status Information
- Written authority to proceed with foreclosure.
Upon receipt of the required documents and title commitment, Millsap & Singer, LLC reviews the
title for proper parties and reports any potential title issues to the lender. First legal action
of filing the petition with the district court in which the property sits occurs shortly after title
is reviewed. Millsap & Singer, LLC obtains service of process against all interested parties
by personal service and through publication. Millsap & Singer, LLC handles all communication
with title and publication vendors to assure quality and timely production.
Millsap & Singer, LLC obtains judgment confirming the amounts due under the loan, assigning
the rights of the parties to the property, and ordering a sale of the property to satisfy the
amounts due. The judgment will include personal liability on the part of the borrowers for the
amounts due if they borrowers are personally served. The redemption period after sale is determined
at the time of judgment and can extend from three (3) months to one (1) year, depending on the amount
paid on the loan prior to judgment. Our attorneys review each file to determine the possible
redemption periods and move for the shortest redemption period allowable under Kansas law.
When the judgment remains unsatisfied for ten (10) days after entry, a sheriff’s sale may be
scheduled. Millsap & Singer, LLC coordinates all actions to the sale including communication
with the sheriff’s department, publication of notice of sale, calculation of costs included in the
bid amount, confirmation of taxes due prior to sale, and handling of the certificate of sale if
the lender is the highest bidder. Under Kansas law, the property may be redeemed for the amount
of the high bid at sale. As such, attorneys from Millsap & Singer, LLC review each bid to
assure a balance is struck between the desire for a deficiency balance and a fair amount for
redemption.
Millsap & Singer, LLC obtains the sheriff’s deed immediately upon expiration of the redemption
period and sheriff’s deed to assure title is acquired in a timely fashion.
