If the person seeking to redeem the property deposits the redemption amount with the levying officer during the redemption period, the levying officer shall tender the deposit to the purchaser. If the purchaser accepts the tender, or, in a case where there has been a hearing and the amount tendered is the amount ordered by the court to redeem the property, whether or not the tender is accepted by the purchaser, the levying officer shall promptly execute and deliver a certificate of redemption to the person seeking to redeem and shall immediately thereafter record a duplicate of the certificate in the office of the recorder of the county where the property is located. (CCP 729.080(b))
Tender of the redemption price determined by court order or agreed upon by the purchaser and the person seeking to redeem is equivalent to payment. If the tender is refused, the levying officer shall deposit the amount tendered with the county treasurer of the county where the property is located payable to the order of the purchaser. (CCP 729.080(c))
Except as provided in the next paragraph, upon redemption the effect of the sale is terminated and the person who redeemed the property is restored to the estate the same as if no sale had taken place. (CCP 729.080(d))
The lien under which the property is sold, any liens subordinate thereto, and any state tax lien that are extinguished by the sale do not reattach to the property upon redemption, and the property may not be applied to the satisfaction of the claim or judgment under which the lien was created. (CCP 729.080
(e)) For example, a judgment creditor whose judgment lien is extinguished may not again record the judgment to create a lien on the same property, nor may the judgment creditor obtain an execution lien by levy of a writ of execution on the property.