Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

dismortgage

Read a random definition: turpis causa

A quick definition of dismortgage:

Dismortgage is a term used to describe the act of paying off a defaulted mortgage debt by a borrower who does not want to lose their property. It is also known as redemption. This means that the borrower can reclaim their property by paying a specific price. It is important to note that there is a specified period within which the borrower can recover their property after a foreclosure or tax sale by paying the outstanding debt or charges. This is known as statutory redemption. Tax redemption is another form of dismortgage where a taxpayer can recover their property taken for nonpayment of taxes by paying the delinquent taxes, interest, costs, and penalties.

A more thorough explanation:

Definition: Dismortgage refers to the act of paying off a defaulted mortgage debt by a borrower who does not want to lose the property. It is also known as redemption.

Example: John had taken a mortgage to buy a house, but he was unable to make the payments on time. As a result, the bank threatened to foreclose on the property. To avoid losing his home, John decided to dismortgage by paying off the outstanding debt.

This example illustrates how dismortgage or redemption can help a borrower keep their property by paying off the defaulted mortgage debt.

dismission | Disneyland parent

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
13:25
thrifted a vintage burberry suit today and feeling unstoppable
Dkk
13:26
Nice
glovediedthisishismom
13:26
im in the field like a defensive lineman im always in saks 💯
1a2b3c4d26z
13:26
That's awesome
1a2b3c4d26z
13:26
real ones shop at bergdorf
13:28
real ones shop at YMH
triplethread
13:28
i missed another fordham wave
triplethread
13:28
mamas getting denied
JumpySubsequentDolphin
13:29
the bergdorf on 5th Ave in NYC is so
JumpySubsequentDolphin
13:29
it feels like home
Dkk
13:29
I'm at your mommas house rn: https://x.com/Mansavelli_/status/1648073454665572352
triplethread
13:29
im addicted to reacting to all of the decisions
triplethread
13:29
with the emojis
HopefullyInLawSchool
13:29
I shop at Joe
HopefullyInLawSchool
13:29
Joe's
glovediedthisishismom
13:30
i shop at tawget
glovediedthisishismom
13:30
im dawk gawthic maga
triplethread
13:30
i shop at giant eagle
ForDizzyDJoy
13:31
How did i miss Fordham and American’s wave and I applied in september 🙃
13:33
Lol UC Davis took me of ED and put me in RD
13:34
surprised I didnt get straight denied
HopefullyInLawSchool
13:34
they emailed you/
HopefullyInLawSchool
13:34
?
13:35
@HopefullyInLawSchool: Yea, I just got it
i just want a cornell ii :(
13:37
yak you will be fucking shit up at cornell this time next year dw
i love u
13:38
love you too bby
glovediedthisishismom
13:42
what if desantis appoints lara trump and matt gaetz to be floridas senators
Dkk
13:42
Sounds good to me
LSD+ is ad-free, with DMs, discounts, case briefs & more.