Equity of redemption

noun

Definitions

1.nounThe 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.

Synonyms

equity tenant-right possibility of reverter welsh mortgage admortization redemption remainderman reverter reversion retention remitter accounting

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