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The equity of redemption was the right to petition the courts of equity to compel the mortgagee to transfer the property back to the mortgagor once the secured obligation had been performed. [1] Today, most mortgages are granted by statutory charge rather than by a formal conveyance, although theoretically there is usually nothing to stop two ...
Santley v Wilde [1899] 2 Ch 474 is a decision of the English Court of Appeal in relation to the legal nature of a mortgage, and to what extent a provision in a mortgage may be struck down as a fetter or "clog" on the equity of redemption.
Floating charge, option, exclusivity, restraint of trade, equity of redemption Kreglinger v New Patagonia Meat & Cold Storage Co Ltd [1913] UKHL 1 is an English property law and UK insolvency law case, concerning whether an exclusivity agreement for buying sheepskins, that accompanied a loan, frustrated the borrower's right to pay off and ...
Vernon v Bethell (1762) 28 ER 838 is an English property law case, where it was affirmed that there could be no clog on the equity of redemption.In justifying this rule, Lord Henley LC made the famous observation that,
Redemption timelines can be longer or shorter depending on other factors, like whether or not the house was abandoned and the amount owed on the original mortgage loan. How borrowers can exercise ...
The right of redemption, in the law of real property, is the right of a debtor whose real property has been foreclosed upon and sold to reclaim that property if they are able to come up with the money to repay the amount of the debt. [1] About half of all U.S. states have a statutory provision that allows such a reclamation of property. [2]
Increasingly the courts of equity began to protect the borrower's interests, so that a borrower came to have under Sir Francis Bacon (1617–21) [9] an absolute right to insist on reconveyance on redemption even if past due. This right of the borrower is known as the equity of redemption.
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