In this task, you are required to compare and contrast the nature of conventional

redemption, legal redemption and equitable mortgage in an essay format. (300 words)

In conventional redemption seller reserved the right to repurchased the

thing sold with obligation and return price of the sale, expenses of contract and other
real installments and the important and helpful cost made on the thing sold.
Conventional redemption will happen when the vendor reserves the right to repurchase
the thing sold, with the obligation to comply with the provisions of Article 1616 and other
stipulations which may have been agreed upon. Legal redemption is the right to be
subrogated upon similar terms and conditions stipulated in the contract, in the place of
one who obtains the thing by purchase or by dation in payment or by other exchange
whereby ownership is transmitted by onerous title. The act of taking back by the seller
from the buyer a thing which had been sold subject to the right of repurchase. An
equitable mortgage has been defined as one which although lacking in some
convention, or form or words, or other requisites requested by a statute, by the
uncovers the goal of the parties to charge real property as security for a debt, there
being no difficulty nor anything contrary to law in this purpose. The equitable nature of a
mortgage might be expected either to the way that the sold property is evenhanded, or
to the way that the mortgagor has not executed an instrument which is adequate to
move the legal estate. In the first case the mortgage, be it never so formal, can't be a
legal mortgage, in the second case it is the informality of the mortgage which keeps it
from being a legal mortgage. These options will be examined independently. An
equitable mortgage may likewise be made by a deposit of title deeds . No redemption
due to erroneous belief that it is equitable mortgage which can be extinguished by
paying the loan.