A Court Has Said That Pedrag Holds the Equity of Redemption

question 29

Multiple Choice

A court has said that Pedrag holds the equity of redemption in a piece of land called Blackacre. The other party involved in the mortgage is Clarissa. Which of the following statements is most likely TRUE?

• A) Pedrag is the mortgagee.
• B) The "equity" involved in the equity of redemption has the same value as the debt that has yet to repaid between Pedrag and Clarissa.
• C) The concept of equity of redemption is essential to the creation of subsequent mortgages.
• D) The equity of redemption is relevant only if Clarissa has obtained a final order for foreclosure.
• E) If the equity of redemption is the only interest that Pedrag holds in Blackacre, that piece of property is located in a land titles system jurisdiction.