Clog Equity of Redemption | Fetter on Mortgage Redemption

clog equity of redemption A fetter, restriction or impediment, especially such an impediment on the mortgagor’s equity of redemption. A stipulation or provision in a mortgage deed that prevents the mortgagor from recovering his property unencumbered, after repayment of all the monies due to the mortgagee or performance of all the obligations for which the property was given as security. A clog on the equity of redemption may arise, for example, “where the mortgagee will suddenly bestow … [Read more...]