Right of a mortgagor to recover mortgaged property from a judicial sale or foreclosure by paying the lender the outstanding principal and interest due, plus the lender's costs in foreclosure. Also, the right of a debtor in bankruptcy to redeem personal property by paying creditors the fair market value of assets securing their lien.
Right of Redemption
| Banking Dictionary: Right of Redemption |
| 5min Related Video: Right of Redemption |
| Real Estate Dictionary: Right of Redemption |
Same as Equity of Redemption.
Learn More
 | Statutory Right of Redemption |
| Equity of Redemption |
| Power of Sale (legal term) |
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 | Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved. Read more |
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| Real Estate Dictionary. Dictionary of Real Estate Terms. Copyright © 2004 by Barron's Educational Series, Inc. All rights reserved. Read more |
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Mentioned in
- Redemption
- mortgage
- Strict Foreclosure (legal term)
- Statutory Redemption (legal term)
- equity
- Jubilee
- Foreclosure (legal term)
- Tax Sale (legal term)
- Book of Ruth
- Seventh-Day Adventism (parapsychology)
