A sheriff’s deed is a deed that transfers or conveys title (ownership rights) in property purchased at a sheriff’s sale. A sheriff’s sale is typically ordered by a court after a person or entity fails to pay a court judgment against them (a judgment debtor) or when the property is the subject of a mortgage foreclosure.

Laws vary from state to state, but a debtor whose property is the subject of a mortgage foreclosure that was sold at a sheriff’s sale may have the right to redeem the property or the right to redemption of the property—paying the amount due and keeping the property—until confirmation of the sale is signed by the judge and filed by the court. This redemption period is usually defined by state statute and may be referred to as a statutory redemption period.

The lender (bank) that is foreclosing on the mortgage is often the high bidder that purchases the property at a sheriff’s sale. If another party is the high bidder at the sheriff’s sale, the lender (bank) may be able to get a deficiency judgment against the debtor (borrower or mortgagor) if the sale amount isn’t enough to pay the balance of the debt—depending on the state’s law.

In Oklahoma, a sheriff's deed is a legal document that transfers ownership of property sold at a sheriff's sale, which is typically the result of a court-ordered sale due to a failure to pay a court judgment or as part of a mortgage foreclosure process. Oklahoma law provides a statutory redemption period, during which the debtor has the right to redeem the property by paying the full amount due before the sale is confirmed by a judge and filed with the court. This redemption period allows the debtor a final opportunity to retain ownership of the property. If the property is foreclosed and sold at a sheriff's sale, the foreclosing lender often becomes the high bidder and purchases the property. However, if another party outbids the lender, and the sale proceeds do not cover the outstanding mortgage debt, the lender may seek a deficiency judgment against the debtor to recover the remaining balance. The specifics of these processes, including the length of the redemption period and the conditions under which a deficiency judgment may be pursued, are governed by Oklahoma state statutes.