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Equity Of Redemption

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
: the value of such interest

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.