equity of redemption


noun

the right of a mortgagor to redeem the property by paying the debt, even after default in payment of the sum owed.
the interest of an owner of land subject to a mortgage.

Nearby words

  1. equites,
  2. equities,
  3. equitoxic,
  4. equity,
  5. equity capital,
  6. equity security,
  7. equity stock,
  8. equity weighting,
  9. equity-linked policy,
  10. equiv.

Origin of equity of redemption

First recorded in 1705–15

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019


British Dictionary definitions for equity of redemption

equity of redemption

noun

property law the right that a mortgager has in equity to redeem his property on payment of the sum owing, even though the sum is overdueSee also foreclose
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012