The following Property practice note provides comprehensive and up to date legal information covering:
The equity of redemption arises as soon as the mortgage is made. It is an interest in the land which the mortgagor can:
transfer, lease or mortgage inter vivos, or
by will (it passes on intestacy)
It is a fundamental principle of a mortgage that there must be no clog on the equity of redemption. This means that there must be no fetter on the mortgagor’s right to:
redeem the mortgage, and
recover unencumbered enjoyment of the property
by repaying the mortgage debt in full.
Any clog is void.
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