When the new buyer takes the property subject to the mortgagee's rights, only the equity of redemption is sold.

Question

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When a new buyer takes the property subject to the mortgagee's rights, they are essentially buying the property with the existing mortgage in place. This means they acquire only the equity of redemption, which is the right of the mortgagor to reclaim property upon payment of the debt, without assuming personal liability for the mortgage itself.

When the New Buyer Takes the Property Subject to the Mortgagee's