Real estate. The right of a mortgagor in default to recover property before a foreclosure sale by paying the principal, interest, and other costs that are due. • A defaulting mortgagor with an equity of redemption has the right, until the foreclosure sale, to reimburse the mortgagee and cure the default. In many jurisdictions, the […]
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equity of redemption. Real estate. The right of a mortgagor in default to recover property before a foreclosure sale by paying the principal, interest, and other costs that are due. • A defaulting mortgagor with an equity of redemption has the right, until the foreclosure sale, to reimburse the mortgagee and cure the default. In
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equity of redemption 衡平法上的回赎权；赎回抵押物的权利 不管当事人约定的回赎期限是否已过，抵押人都可以随时行使衡平法上的回赎权，只要抵押人未表示取消回赎权，就可以在抵押权人没有依权利出卖抵押物之前支付债务的本金、利息和有关费用，赎回抵押物。衡平法上的回赎权是抵押权的本质属性，是抵押权内在的、固有的权利，任何剥夺这项权利的条款皆为无效。但衡平法上的回赎权可以因以下四个原因而消灭：１抵押人将回赎权转让给抵押权人；２抵押权人根据其于债务人未能清偿时即得出售抵押物之权利而将抵押物出卖；３法院判决取消回赎权；４依英国1939年《诉讼时傚法》〔Limitation Act〕而超过12年的最长时效期限 。(→foreclosure; redemption)
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