The term ” right of redemption ,” or ” right to redeem ,” is familiarly used to describe the estate of the debtor when uuder mortgage, to be sold at auction, in contradistinction to an absolute estate , to be set off by appraisement . It would be more consonant to the legal character of this interest to call it the “debtor’s estate subject to mortgage.” White v. Whitney, 3 Mete. (Mass.) 86.
Black’s Law Online Dictionary
