from The American Heritage® Dictionary of the English Language, 4th Edition
- n. The right of one who has mortgaged property to redeem that property upon payment of the sum due within a reasonable amount of time after the due date.
from the GNU version of the Collaborative International Dictionary of English
- n. the advantage, allowed to a mortgageor, of a certain or reasonable time to redeem lands mortgaged, after they have been forfeited at law by the nonpayment of the sum of money due on the mortgage at the appointed time.
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