Question

Which of the following is true of equity of redemption?

A. It is the right to pay off the mortgage in full, including interest, and thus discharge the debt in total.

B. It states that a default on one installment payment will make the entire balance due immediately, giving the mortgagee the right to collect the full amount.

C. It is the mortgagee's right to apply to a court to have the property sold.

D. It is the right to receive each installment payment as it falls due.

Answer

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