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
equites, equities, equitoxic, equity, equity capital, equity of redemption, equity security, equity stock, equity weighting, equity-linked policy, equiv.
Origin of equity of redemption
First recorded in 1705–15
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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
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