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equity of redemption

   Also found in: Legal, Financial, Wikipedia 0.09 sec.
equity of redemption
n.
The right of one who has mortgaged property to redeem that property upon payment of the sum due within a reasonable amount of time after the due date.
equity of redemption
n
(Law) Property law the right that a mortgager has in equity to redeem his property on payment of the sum owing, even though the sum is overdue See also foreclose


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