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Meaning of equity of redemption

Source language: EnglishDictionary language: English

equity of redemption

noun

Definitions

  1. The advantage, allowed to a mortgager, of a certain or reasonable time to redeem lands mortgaged, after they have been forfeited at law by the non-payment of the sum of money due on the mortgage at the appointed time.

Sources:https://en.wiktionary.org/wiki/equity%20of%20redemption

Related words

equitytenant-rightpossibility of reverterwelsh mortgageadmortizationredemptionremaindermanreverter