equity of redemption
Legal Definition of 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
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“Equity of redemption.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/equity%20of%20redemption. Accessed 18 Apr. 2021.
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