equity of redemption


equity of redemption
equity of redemption ˌequity of reˈdemption noun [uncountable] LAW FINANCE
the right of someone who has borrowed money to buy property to keep their property even if they do not make repayments on the loan for a period of time, but then continue with repayments or repay the loan and pay any costs to the lender:

• The debtor has an equity of redemption, which he is only to lose after the court has given him ample opportunity to repay, and it becomes plain that he can not or will not pay.

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equity of redemption UK US noun [S] LAW, PROPERTY
the legal right to own a property after having paid a mortgage on it, even if some payments have been late: »

Where the payments on a mortgage have not been met and the instrument has not been foreclosed, the mortgagor still has what is known as an equity of redemption.


Financial and business terms. 2012.

Look at other dictionaries:

  • equity of redemption — 1: the right of a defaulting mortgagor to redeem the mortgaged property before an absolute foreclosure 2: the interest or estate remaining to a mortgagor in mortgaged property; also: the value of such interest Merriam Webster’s Dictionary of Law …   Law dictionary

  • Equity of redemption — Equity Eq ui*ty, n.; pl. {Equities}. [F. [ e]quit[ e], L. aequitas, fr. aequus even, equal. See {Equal}.] 1. Equality of rights; natural justice or right; the giving, or desiring to give, to each man his due, according to reason, and the law of… …   The Collaborative International Dictionary of English

  • equity of redemption — n. the right of a mortgagor in default to redeem the mortgaged property by paying the principal, interest, and costs within a specified reasonable time …   English World dictionary

  • Equity of redemption — The equity of redemption refers to the right of a mortgagor in law to redeem his property once the liability secured by the mortgage has been discharged.Historically, mortgages were made by the mortgagor executing a conveyance of legal title to… …   Wikipedia

  • equity of redemption — The right, recognized by courts of equity from early times, of a mortgagor, following a breach of the condition of the mortgage, to redeem property from the forfeiture by discharging the obligation secured within a reasonable period; such right… …   Ballentine's law dictionary

  • equity of redemption — 1. the right of a mortgagor to redeem the property by paying the debt, even after default in payment of the sum owed. 2. the interest of an owner of land subject to a mortgage. [1705 15] * * * …   Universalium

  • equity of redemption — noun Law the right of a mortgagor over the mortgaged property, especially the right to redeem the property on payment of the principal, interest, and costs …   English new terms dictionary

  • equity of redemption — noun the right of a mortgagor to redeem the mortgaged property by paying the debt, within a certain time after the due date …   Australian English dictionary

  • equity of redemption — /ˌekwɪti əv rɪ dempʃən/ noun a right of a mortgagor to redeem the estate by paying off the principal and interest …   Dictionary of banking and finance

  • equity of redemption — 1. : the right of a mortgagor to redeem his property after the term of the mortgage has expired but before an absolute foreclosure has been authorized 2. : the interest or estate remaining to the mortgagor in property mortgaged by him or the… …   Useful english dictionary