Legal Definition and Related Resources of Clog On Equity Of Redemption
Meaning of Clog On Equity Of Redemption
Any stipulation in a mortgage that prevents redemption on payment of principal , interest and costs owing on the mortgage or on performance of the obligations for which the security was given is called a clog or fetter on the equity of redemption and is absolutely void. The principle follows from the equitable doctrine once a mortgage always a mortgage.
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Clog On Equity Of Redemption in Historical Law
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