Redemption Period for Beginners
 
 

Redemption Period for Beginners

by Emelino T Maestro, Tax Accounting Guru

What does it mean? A redemption period is the one (1)-year grace period given to the taxpayer-owner of a certain real property subject of an auction sale proceeding within which to redeem the property from the date of sale or the date when the property was declared forfeited by the government.