Definition
The right of a mortgagor (borrower) to recover mortgaged property by repaying the outstanding debt. Under Section 60 of the Transfer of Property Act, 1882, the mortgagor's right to redeem is a fundamental right that cannot be extinguished except by court decree or by sale under SARFAESI. The right exists until the property is sold.
Need Expert Advice on Redemption?
For specific advice on how Redemption applies to your debt recovery matter, consult Advocate Subodh Bajpai — LLM, MBA (XLRI Jamshedpur). 25+ years of exclusive banking and debt recovery practice across DRT, SARFAESI, IBC, and NI Act.
Defined by Advocate Subodh Bajpai, Senior Partner, Unified Chambers and Associates