Meaning of equity of redemption | Babel Free

Definitions

The 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.

uncountable

Examples

“This reasonable advantage, allowed to mortgagors, is called the equity of redemption : and this enables a mortgagor to call on the mortgagee , who has possession of his estate , to deliver it back and account for the rents and profits received”

CEFR level