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'The evolution of the equity of redemption can only be properly understood by reference to the complex interplay between the legal, economic, political and cultural dimensions of land ownership.' Discuss.
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'The evolution of the equity of redemption can only be properly understood by reference to the complex interplay between the legal, economic, political and cultural dimensions of land ownership.' Discuss.1 I The Equity of Redemption The rise and subsequent decline of the Equity of Redemption is a prime example of law reflecting and then going on to shape societal conceptions, be they economic, cultural or political. This paper will examine the conditions which fostered the birth of the doctrine, the interests it served during its lifetime and the factors behind its eventual demise. The doctrine of the Equity of Redemption grew up in response to the harsh operation of the common law in relation to mortgages. The modern mortgage grew up in the sixteenth and seventeenth centuries, in which landowners were able to borrow money by using their real properties as security. The mortgage would comprise a conveyance of the property from the mortgagor...
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