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legal right of redemption

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  • legal right of redemption — The right of a mortgagor, in a jurisdiction where a mortgage has the effect of vesting title in the mortgagee, to pay the mortgage debt and thus avoid the effect of the mortgage as a transfer of title. Stevens v Turlington, 186 NC 191, 119 SE 210 …   Ballentine's law dictionary

  • Right Of Redemption — The legal right of any mortgagor or borrower who owns real estate to reclaim his or her property. Right of redemption gives property owners who pay off the back taxes or liens on their property the ability to prevent foreclosure or the auctioning …   Investment dictionary

  • right of redemption — the legal right to regain ownership of property that one has formerly enjoyed by freeing it from a debt, charge, or lien, (as by paying to the creditor what is due to release the secured property) compare equity of redemption …   Useful english dictionary

  • redemption — re·demp·tion /ri demp shən/ n: the act, process, or fact of redeeming see also equity of redemption, right of redemption re·demp·tive / demp tiv/ adj Merriam Webster’s Dicti …   Law dictionary

  • right — / rīt/ n [Old English riht, from riht righteous] 1 a: qualities (as adherence to duty or obedience to lawful authority) that together constitute the ideal of moral propriety or merit moral approval b: something that is morally just able to… …   Law dictionary

  • Redemption in the Old Testament — • Strictly deliverance by payment of a price or ransom, or simply deliverance by power, as from oppression, violence, or captivity Catholic Encyclopedia. Kevin Knight. 2006. Redemption in the Old Testament     Redemp …   Catholic encyclopedia

  • right — As a noun, and taken in an abstract sense, means justice, ethical correctness, or consonance with the rules of law or the principles of morals. In this signification it answers to one meaning of the Latin jus, and serves to indicate law in the… …   Black's law dictionary

  • Redemption (United States history) — Redemption, in the history of the United States, was a term used by white Southerners to refer to the reversion of the U.S. South to conservative Democratic Party rule after the period of Reconstruction (1865 1877), which in turn followed the U.S …   Wikipedia

  • LEGAL PERSON — LEGAL PERSON, a body of men or of property which the law, in imitation of the personality of human beings, treats artificially as subject of rights and duties independent of its component parts. The classic example of a legal person is the  … …   Encyclopedia of Judaism

  • Redemption movement — Part of a series on Taxation Taxation in the United States …   Wikipedia

  • equity of redemption — ˌequity of reˈdemption noun [uncountable] LAW FINANCE the right of someone who has borrowed money to buy property to keep their property even if they do not make repayments on the loan for a period of time, but then continue with repayments or… …   Financial and business terms