redemption

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Redemption

The liberation of an estate in real property from a mortgage.

Redemption is the process by which land that has been mortgaged or pledged is bought back or reclaimed. It is accomplished through a payment of the debt owed or a fulfillment of the other conditions.

redemption

n. the act of redeeming, buying back property by paying off a loan, interest and any costs of foreclosure. (See: redeem)

redemption

noun deliverance, indemnification, recovery, release, reparation, replevin, repossession, repurchase, rescue, restoration, retrieval, return, salvation
Associated concepts: right of redemption
See also: discharge, freedom, indemnification, indemnity, liberation, payment, progress, ransom, recovery, rehabilitation, replevin, restitution, salvage

REDEMPTION, contracts. The act of taking back by the seller from the buyer a thing which had been sold subject to th right of repurchase.
     2. The right of redemption then is an agreement by which the seller reserves to himself the power of taking back the thing sold by returning the price paid for it. As to the fund out of which a mortgaged estate is to be redeemed, see Payment. Vide Equity of redemption.

References in periodicals archive ?
The court affirmed a report by a magistrate judge who concluded that the redemption payments qualified as dividends under Sec.
If it is, then the redemption is considered to be a third-party transfer subject to temporary regulations section 1.
The notice of redemption for the debentures will be accompanied by a letter of transmittal form by which holders may surrender their debentures for conversion or redemption to First Union National Bank of North Carolina, which is the trustee under the indenture for the debentures and will act as agent for Oakwood in connection with the redemption and related conversions of the debentures.
Holders of the Preferred Securities should complete the appropriate instruction form for redemption or conversion, as applicable, pursuant to The Depository Trust Company's book-entry system and follow such other directions as instructed by The Depository Trust Company.
Corporate distributions in redemption of stock may be characterized either as a sale (i.
A redemption in this category must meet certain mathematical tests.
If the redemption is deemed "essentially equivalent to a dividend" and does not fit within any of the other Sec.
However, if the particular "transfer" involves the redemption of stock by a corporation, the tax-free consequences become mom complex.
Consequently, insurance (most commonly, life insurance) is often used to fund both redemption and cross-purchase agreements.
356 test, providing that a proprietary interest in a target is not preserved to the extent that consideration received before a reorganization in a redemption of (or distribution on) the target stock is treated as other property or money under Sec.
162(k), which denies a deduction for costs relating to a redemption (with certain limited exceptions, including interest and ocher related debt acquisition costs).
A redemption will be considered a sale or exchange subject to capital gain treatment if it is: 1.