right of redemption

Legal Definition of right of redemption

: the right to regain ownership of property by freeing it from a debt, charge, or lien (as by paying to the creditor what is due to release the secured property) specifically : a mortgagor's statutory right to redeem after a judicial foreclosure and sale

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“Right of redemption.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/right%20of%20redemption. Accessed 28 Feb. 2020.

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