Redeem - Page 3 - Law Dictionary

right of redemption

right of redemption :the right to regain ownership of property by freeing it from a debt, charge, or lien (as by paying to the creditor what is due to release the secured property) ;specif : a mortgagor's statutory right to redeem after a judicial foreclosure and sale ...

Dismortgage

To redeem from mortgage...

adeem

adeem [from ademption, after such pairs as redemption : redeem] : to revoke or satisfy (as a legacy) by ademption ...

callable debt

callable debt a debt security whose issuer has the right to redeem the security at a specified price on or after a specified date, but prior to its stated final maturity. Source: U.S. Department of Housing and Urban Development ...

cash out

cash out 1 : to prematurely redeem the securities of (a holder) often as part of a merger [the merging company will cash out the minority shareholders] 2 a : to accept payment for (a security) in full often unwillingly [the shareholders were required to cash out their shares] b : to dispose of (one's goods or assets) by sale [cashed out his investment] cash-out n ...

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 ;also : the value of such interest ...

foreclosure

foreclosure 1 : a legal proceeding that bars or extinguishes a mortgagor's equity of redemption in mortgaged real property see also deficiency judgment at judgment, redeem, right of redemption, statutory foreclosure, strict foreclosure 2 : the extinguishment (as under the provisions of Article 9 of the Uniform Commercial Code) of the rights of a debtor in personal property subject to a security interest by judicial proceedings and esp. by judicial sale see also strict foreclosure ...

Debenture stock

The debt or series of debts collectively represented by a series of debentures a debt secured by a trust deed of property for the benefit of the holders of shares in the debt or of a series of debentures By the terms of much debenture stock the holders are not entitled to demand payment until the winding up of the company or default in payment in the case of railway debentures they cannot demand payment of the principal and the debtor company cannot redeem the stock except by authority of an act of Parliament...

strict foreclosure

strict foreclosure 1 : a proceeding in which the amount due on a mortgage is determined and a period of time within which it must be paid is fixed with the understanding that in the event of the mortgagor's default title will be vested in the mortgagee free of any right of the mortgagor to redeem compare statutory foreclosure 2 : the acceptance by a creditor of collateral as discharge of an obligation which under the Uniform Commercial Code denies the creditor the right to a deficiency judgment NOTE: Under the U.C.C.'s strict foreclosure provision, notice must be given to other parties having a security interest in the property. If one of these parties objects to the strict foreclosure, there must be a foreclosure sale instead. In some states, deficiency judgments are allowed in strict foreclosure cases as well as foreclosures by sale. ...

Consolidation of mortgages

Consolidation of mortgages. When different pro-perties are mortgaged by the same mortgage or to the same mortgagee for different debts, it was formerly the right of the mortgagee to refuse to allow the mortgagor to redeem one of the mortgages without also redeeming the others, the effect being to throw the whole of the debts on the whole of the properties and thus 'consolidate' the mortgages. This right of the mortgagee was an application of the maxim, 'He who seeks equity must do equity'; it was not considered fair to the mortgagee to allow the mortgagor to pay off one mortgage, which perhaps was well secured, and leave the mortgagee with another mortgage on his hands which might be very insufficiently secured. But though the doctrine was not unfair or unreasonable as originally applied, it came to be extended to cases where, owing to devolutions of title having taken place, its application was manifestly unjust, and attempts were made by the Courts to limit its exercise. Finally, the...

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