Equity of Redemption
The borrower's right to stop a foreclosure by paying the full amount owed before the foreclosure sale is finalized.
Equity of redemption is the borrower's right to reclaim the property by paying the entire debt, plus costs, before the foreclosure is complete. In Florida, the borrower may exercise this right up to the later of the time set in the foreclosure judgment or the moment the clerk files the certificate of sale.
Florida does not provide a statutory right to redeem after the foreclosure sale is finalized.
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Residential Mortgages (9% of the exam)
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This definition is Florida real estate exam-prep education, not legal, tax, or professional advice. Verify current rules against the official source before relying on them for a real transaction. Back to the full glossary.