redemption, equitable right of


The right of the mortgagee to redeem or get back title to a property he or she has defaulted on before the foreclosure sale actually takes place. Requires the mortgagee to pay back payments and bring the mortgage current.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
redemption date redemption fee