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Legal Terms - clog or fetter on the equitable right to redeem
Any clause in a *mortgage deed that forbids redemption upon fulfillment of the obligation or debt for which the security was granted. These clauses are unenforceable. A mortgage deed that gives the mortgagee the opportunity to buy the mortgaged property either before or after the mortgage has been repaid serves as an example (Jones v. Morgan [2001] EWCA Civ 995). Unconscionable clauses in a mortgage are likewise null and void, such as ones that prohibit redemption for a period of 100 years. Still, a business might issue *debentures that cannot be redeemed. If the transaction containing a provision is a business arrangement rather than a mortgage, then the provision can be acceptable even though it would otherwise be unconscionable. Therefore, as long as these clauses do not violate the contractual prohibitions against *restraint of commerce, they will be upheld in public house or garage mortgages made by their tenants or owners to brewers or oil firms. The Consumer Rights Act of 2015 allows one to contest redemption penalties that are not fair.
Any clause in a *mortgage deed that forbids redemption upon fulfillment of the obligation or debt for which the security was granted. These clauses are unenforceable. A mortgage deed that gives the mortgagee the opportunity to buy the mortgaged property either before or after the mortgage has been repaid serves as an example (Jones v. Morgan [2001] EWCA Civ 995). Unconscionable clauses in a mortgage are likewise null and void, such as ones that prohibit redemption for a period of 100 years. Still, a business might issue *debentures that cannot be redeemed. If the transaction containing a provision is a business arrangement rather than a mortgage, then the provision can be acceptable even though it would otherwise be unconscionable. Therefore, as long as these clauses do not violate the contractual prohibitions against *restraint of commerce, they will be upheld in public house or garage mortgages made by their tenants or owners to brewers or oil firms. The Consumer Rights Act of 2015 allows one to contest redemption penalties that are not fair.
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