Which of the following is synonymous with equity of redemption with respect to real property law?
A) the right to have legal ownership restored upon the repayment of the mortgage
B) damages based on the value of the property on the date of equity redemption
C) the right of owners to exclusively control land during the term of a lease
D) damages substituted for the court's decree of a right to equity redemption

Question

Quizplus · Accepted Answer

The equity of redemption refers to the mortgagor's right to reclaim legal ownership of the property by paying off the entire mortgage debt, typically before foreclosure proceedings are finalized.

Which of the Following Is Synonymous with Equity of Redemption