equity of redemption
noun
the right of a mortgagor to redeem the property by paying the debt, even after default in payment of the sum owed.
the interest of an owner of land subject to a mortgage.
Origin of equity of redemption
First recorded in 1705–15
Words nearby equity of redemption
equites,
equities,
equitoxic,
equity,
equity capital,
equity of redemption,
equity security,
equity stock,
equity weighting,
equity-linked policy,
equiv.
British Dictionary definitions for equity of redemption
equity of redemption
noun
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