Statutory Lien - Law Dictionary Search Results

of a mortgagee in the mortgaged property] ;also : lien NOTE: While a lien may be created by statutory or judicial means without any agreement providing for security (as in the case of a tax lien or

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right of redemption

(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 … 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