Dictionary
Words, grammatical forms and meanings linked to the ontology.
equity of redemption en · NOUN
Meanings
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(uncountable) 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.
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
1765–1769, William Blackstone, Commentaries on the Laws of England, (please specify |book=I to IV), Oxford, Oxfordshire: […] Clarendon Press, →OCLC: