| 单词 | Clog on the equity of redemption |
| 释义 | 衡平法贖回權上的障礙物 Any device imposed by a mortgagee upon a mortgagor to prevent or impede the mortgagor from redeeming property the subject of security. Traditionally, many collateral advantages are seen as clogs on the equity of redemption, such as a option for the mortgagee to purchase the property, contained in the mortgage document or otherwise a part of the total loan transaction, or a release of the equity of redemption contained in the mortgage document; provisions restricting the exercise of the equity of the redemption to a particular person, within a limited time frame or only after an unconscionably long period of time has passed; an unfair or unconscionable collateral restriction or condition which operates to affect the property even after the mortgage has been redeemed; and provisions which make exercise of the equity conditional on requirements difficult or impossible to fulfil. An unwarranted clog on the equity of redemption is a fundamental requirement of a mortgage relationship: The Maule [1994] 2 HKC 671 (HC). The traditional rule is that the right of redemption is an inseparable incident of a mortgage and cannot be controlled or defeated by any agreement between the parties. However, the rule has developed over the centuries, it has been modified especially in relation to commercial transactions: Kreglinger v New Patagonia Meat and Cold Storage Co Ltd [1914] AC 25. As for security over land in the form of a legal charge under the Conveyancing and Property Ordinance (Cap 219) s 44, the rule against clogs was irrelevant for the inherent nature of a charge renders unnecessary the equity of redemption. The land must be freed from the encumbrance once the debt has been repaid. On the principle of once a mortgage always a mortgage, a clog or fetter on the equity of redemption is void: Noakes & Co Ltd v Rice [1902] AC 24 (HL). See also Collateral advantage; Equity of redemption; Unconscionable. 由承按人向按揭人施加的手段，用以避免或防礙該按揭人贖回抵押的標的。傳統上，很多附屬的利益均被視為衡平法贖回權上的障礙物，例子如下：載於按揭文件中或為貸款總額的一部份、並容讓承按人購買該財產的選擇權，或載於按揭文件中就衡平法贖回權的解除；限制行使衡平法贖回權的條文，使其只能被某特定人士在有限時限內或於某不合情理地長久的時期過後行使；於贖回按揭後仍影響該財產的不公平或不合情理的附屬限制或條件；及導致衡平法的行使以難於或不能被履行的要求為前提的條款。未經保證的衡平法贖回權上的障礙物是建立按揭關係的基本要求：The Maule [1994] 2 HKC 671 （高等法院）。就傳統規則而言，贖回權是的按揭中不可分割的條件，並不可受任何各方間的協議所控制或推翻。但此傳統規則歷年來不斷發展，特別在商業交易方面不斷被修改：Kreglinger v New Patagonia Meat and Cold Storage Co Ltd [1914] AC 2。就以《物業轉易及財產條例》（第219章）第44條的法定押記為形式的土地抵押而言，由於押記的固有性質令衡平法贖回權變成不必要，因此反對障礙物的規則是不重要的。當債項一旦被償還，該土地就不受產權負擔所影響。基於「一日為按揭，一直為按揭」的原則，衡平法贖回權上的障礙物或束縛是無效的：Noakes & Co Ltd v Rice [1902] AC 24（上議院）。另見Collateral advantage; Equity of redemption; Unconscionable。 |
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