Definitions for "EQUITY OF REDEMPTION"
Related Terms:
Right of redemption, Foreclosure, Redemption, Repossession, Defeasance clause, Mortgage, Mortgagor, Dragnet clause, Strict foreclosure, Charge, Security, Recourse, Collateral, Non-recourse loan, Mortgage loan, Deficiency judgment, Collateral mortgage, Pre-foreclosure, Power of sale, Secured debt, Repossess, Chargor, Recourse loan, Co-borrower, Alienation clause, Co-signer/co-borrower, Co-mortgagor, Pre-foreclosure sale, Redemption period, Preforeclosure sale, Non-recourse, Co-signer, Security interest, Redeem, Due on sale clause, Home mortgage, Co-maker, Deficiency judgement, Workout , Secured loans, Secured loan, Voluntary conveyance, Security instrument, Redeem, Mortgage note, Borrower, Secured, Subject to mortgage, Acceleration
Not the same as the redemption period after a foreclosure sale, which is a right established by statute. Properly, the right to pay off mortgage lien in default by payment of the principal, interest and cost due.
The common law right to redeem property following default on a mortgage by paying the unpaid debt plus interest and costs prior to the foreclosure sale. In some states, the mortgagor has a statutory right to redeem property after a foreclosure sale.
The right of the mortgagor to have title to his property restored to him when he has repaid the mortgage in full.
The right of an owner to redeem property securing a loan that has been accelerated prior to fore- closure.
See Equitable Right of Redemption.
The right of a debtor to reposses a property before foreclosure by repaying the outstanding debt. Commonly referred to as statutory redemption or simply redemption, equity of redemption may require a debtor to pay full capital on the debt as well as additional costs and full interest.This can stop foreclosure.
The right of the debtor to redeem the collateral after it has been forfeited or repossessed due to a default in the contract. The redemption is on the condition of paying the full amount of the debt, interest and costs.
The borrower's right to repay the mortgage and retain ownership of the property.
The right of a mortgagor to redeem his property after the mortgage is past due.
The right of a mortgagor, borrower, to buy back a property after foreclosure sale. While equity of redemption does not exist in some states, in others it extends up to two years.
The right of one who has mortgaged his property to redeem that property upon payment of the mortgage debt, and especially the right to redeem within a reasonable time after the due date.
(1) The right of an owner to redeem his property after he has defaulted on a mortgage. (2) In California the term is usually applied to the right of an owner to redeem his property for 1 year after judicial foreclosure sale. Also called right of redemption.
the sum total of the mortgagor’s rights in Equity; it is an equitable estate which can be assigned or mortgaged again. It exists from the moment the mortgage is made.
The right of the mortgagor to reclaim clear title to the property upon full repayment of the debt.
the right of a mortgagor to redeem the property he has mortgaged; this right could be passed to a third party
The right to pay off a mortgage and regain full ownership of property, after one has defaulted but before the foreclosure sale.
The right a borrower has to pay out in full a mortgage against a property that has gone into foreclosure or power of sale proceedings, thus redeeming the property.
"n. the right of a mortgagor (person owing on a loan or debt against their real property), after commencement of foreclosure proceedings, to "cure" his/her default by making delinquent payments. The mortgagor also must pay all accumulated costs as well as the delinquency to keep the property. See also: foreclosure mortgage redemption "
The rights of the mortgagor, i.e. the property owner, over the mortgaged property. i.e. the right to redeem the property.
A right to redeem property before or after the foreclosure period.
The right to redeem property during the foreclosure period. In California the mortgagor has the right to redeem within 12 months after the foreclosure sale. Back to the Top
The right of a mortgagor, on paying off his debt, to recover the mortgaged property notwithstanding any agreement to the contrary.
The rights of the mortgagor, the property owner, over the mortgaged property. E.g. the right to redeem the property. Escalation. A term used to describe contracted increases in pensions in payment, or in regular contributions.
An interest in the land of the mortgagor has. The mortgagor has the right to redeem the mortgage or sell the land.
A mortgagor's fight to redeem the mortgaged property, even beyond the day appointed for repayment.
The right to redeem property during the foreclosure period such as a mortgagor's right to redeem prior to foreclosure.
Borrower's right to redeem his property by immediately paying off the loan balance and any related costs.
The equity of redemption is an interest in the land the mortgagor has. The mortgagor has the right to redeem at anytime from creation of the mortgage and ,indeed, can dispose of that interest, for example, by selling it.
The right to redeem property during the foreclosure period, such as a mortgagor's right to redeem within a year after foreclosure sale.
Also known as Statutory Redemption or Redemption. The right of the mortgagor, before a foreclosure sale, to reclaim property which has been forfeited due to mortgage default. The mortgagor can redeem the property by paying the full debt, plus interest and cost. Takes place in Title Theory states.
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.