A Court Has Said That Pedrag Holds the Equity of Redemption

Multiple Choice

A court has said that Pedrag holds the equity of redemption in a piece of land called Blackacre.The other party involved in the mortgage is Clarissa.Which of the following statements is most likely TRUE?

A) If the equity of redemption is the only interest that Pedrag holds in Blackacre,that piece of property is located in a land titles system jurisdiction.
B) The equity of redemption is relevant only if Clarissa has obtained a final order for foreclosure.
C) The concept of equity of redemption is crucial to the creation of subsequent mortgages.
D) Pedrag is the mortgagee.
E) The "equity" involved in the equity of redemption has the same value as the debt that has yet to repaid between Pedrag and Clarissa.