equity of redemption
equity of redemption definition by Webster's New World
Webster's New World College Dictionary Copyright © 2010 by Wiley Publishing, Inc., Cleveland, Ohio. Used by arrangement with John Wiley & Sons, Inc.
the right of a mortgagor in default to redeem the mortgaged property by paying the principal, interest, and costs within a specified reasonable time
equity of redemption definition by American Heritage Dictionary
nounThe American Heritage® Dictionary of the English Language, 4th edition Copyright © 2010 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
The right of one who has mortgaged property to redeem that property upon payment of the sum due within a reasonable amount of time after the due date.
equity of redemption - Business Definition
The right of a borrower to reclaim title to property once the terms of a mortgage have been satisfied.