/raɪt ʌv rɪˈdɛmpʃən/ – Phrase
Definition: quyền chuộc lại tài sản đã cầm cố.
A more thorough explanation: The legal English definition of the term “right of redemption” refers to the legal right of a borrower to reclaim their property by paying off the outstanding debt, typically within a specified period of time after a foreclosure or sale. This right allows the borrower to regain ownership of the property by satisfying the debt owed to the lender or buyer.
Example: After defaulting on the mortgage, the homeowner still had the right of redemption to reclaim the property by paying off the outstanding debt within a specified period.