Upon the expiration of the time allowed by law for redemption of land registered under sections 508A.01 to 508A.85, after it has been set off, or sold on execution, or taken or sold for the enforcement of any lien, or charge of any nature, the person who claims under the execution, or under any certificate, deed, or other instrument made in the course of proceedings to enforce the execution or lien, may apply to the court for an order directing the entry of a new CPT to the person, and upon the notice the court may require, the petition shall be heard and a proper order or decree rendered therein.