redemption of collateral
redemption of collateral
A creditor may have a lien on personal property of a debtor where the value of the property is less than the amount due. In that event, the code allows a debtor to pay the creditor the value of the property, rather than the balance due and eliminates the lien from the property. (Bernstein's Dictionary of Bankruptcy Terminology)

United Glossary of Bankruptcy Terms 2012.

redemption of collateral
A creditor may have a lien on personal property of a debtor where the value of the property is less than the amount due. In that event, the code allows a debtor to pay the creditor the value of the property, rather than the balance due and eliminates the lien from the property.

US Bankruptcy 2012.


Glossary of Bankruptcy.

Look at other dictionaries:

  • redemption — re·demp·tion /ri demp shən/ n: the act, process, or fact of redeeming see also equity of redemption, right of redemption re·demp·tive / demp tiv/ adj Merriam Webster’s Dicti …   Law dictionary

  • Redemption movement — Part of a series on Taxation Taxation in the United States …   Wikipedia

  • List of Ordinances and Acts of the Parliament of England, 1642 to 1660 — This is a list of Ordinances and Acts of the Parliament of England from 1642 to 1660, during the English Civil War and the Interregnum.As King Charles I of England would not assent to Bills from a Parliament at war with him, decrees of Parliament …   Wikipedia

  • Massachusetts Constitutional Convention of 1853 — The Massachusetts Constitutional Convention of 1853 met in order to consider changes to the Massachusetts Constitution. This was the third such convention in Massachusetts history; the first, in 1779–80, had drawn up the original document, while… …   Wikipedia

  • Equity of redemption — The equity of redemption refers to the right of a mortgagor in law to redeem his property once the liability secured by the mortgage has been discharged.Historically, mortgages were made by the mortgagor executing a conveyance of legal title to… …   Wikipedia

  • Maxims of equity — The maxims of equity evolved, in Latin and eventually translated into English, as the principles applied by courts of equity in deciding cases before them.[1] Among the traditional maxims are: Contents 1 Equity regards done what ought to be done… …   Wikipedia

  • List of law topics (A-E) — NOTOC Law [From Old English lagu something laid down or fixed ; legal comes from Latin legalis , from lex law , statute ( [http://www.etymonline.com/index.php?search=law searchmode=none Law] , Online Etymology Dictionary; [http://www.m… …   Wikipedia

  • Principality of Brunswick-Wolfenbüttel — Fürstentum Braunschweig Wolfenbüttel State of the Holy Roman Empire (until 1806) ← …   Wikipedia

  • History of pawnbroking — This history is partially outdated for developments in the 20th century To trace the history of pawnbroking, we must go back to the earliest ages of the world, since lending money on portable security (see money and usury) is one of the most… …   Wikipedia

  • Europe, history of — Introduction       history of European peoples and cultures from prehistoric times to the present. Europe is a more ambiguous term than most geographic expressions. Its etymology is doubtful, as is the physical extent of the area it designates.… …   Universalium

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”