The clause in a mortgage or deed of trust that gives the borrower the right to redeem his or her property upon the payment of his or her property upon the payment of his or her obligations to the lender. Back to the Top
Clause in a mortgage that gives the mortgagor the right to redeem his property on payment of his obligation to the mortgagee.
A clause found in mortgages and leases that removes a specified right when certain conditions have been met, such as removing a lenderĂ¢â‚¬(tm)s interest in a property when the loan is repaid.
A provision in a mortgage that allows the mortgagor to have his property released from the mortgage when the secured debt is paid.
A mortgage provision that defeats (or cancels) the mortgage upon the full payment as agreed or provides for forfeiture should the conditions not be fulfilled.
A clause in a mortgage which ensures that, once the borrower has met all of her obligations under the terms of the mortgage and paid out the entire principle and interest borrowed, the lender's legal interest in the property is extinguished.
a provision in a mortgage contract which releases the property from encumbrance when the mortgaged obligation is fully paid.
The clause in a mortgage that gives the mortgager the right to redeem his property upon the payment of his obligations to the mortgagee; A clause which nullifies another part of the instrument.
Clause included in a loan instrument that provides for the cancellation of the mortgagee's interest when the debt has been paid in full.
A clause used in leases and mortgages that cancels a specified right upon the occurrence of a certain condition, such as cancellation of a mortgage upon repayment of the mortgage loan.
Provision guaranteeing the return of title to a mortgagor upon satisfaction of a mortgage's condition and terms. Causes the discharge of a mortgagee's estate interest in a property.
A provision in a mortgage that specifies the terms and conditions to be met in order to avoid default and thereby defeat the mortgage
A clause found in a mortgage which gives the mortgagor the right to redeem his property after payment of his obligations.