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 woman may have been beyond redemption, but I hope that somewhere along the line somebody taught her daughter to respect other people's property and labour.
Mary Bell proved that no child is beyond redemption.
Club Chairman Bill Kenwright admitted recently that 'the book is closed' on the pounds 400m Kirkby project, and with Goodison Park seemingly beyond redemption, the Blues
They seek out Nobel Prize-winning scientist Professor Barnhardt (Cleese), who tries to persuade Klaatu that mankind is not yet beyond redemption.
They eventually seek out Nobel prize-winning scientist Professor Barnhardt (Cleese), who tries to persuade Klaatu that mankind is not yet beyond redemption.
But Helen helps Klaatu escape and the single mother goes on the run with her stepson Jacob in tow, seeking out Nobel prize-winning scientist Professor Barnhardt (John Cleese) to persuade Klaatu that mankind is not yet beyond redemption.
Save what you can and compost what is beyond redemption, putting a bit of optimism into your outlook by buying spring-9owering bulbs and, if you want late colour, popping into the garden centre to find some.
Former trainer John Edwards bought two Irish point-to-point winners, Traffic Control (for pounds 130,000) and one of the wild-card entries Beyond Redemption (pounds 105,000), who will both join his son-in-law Tom George.
The answer is that we need capital punishment for those rare cases in which the killer is beyond redemption.
The sizable minority who are unwilling or unable to understand are outweighed by rational Americans, who find the extremists beyond redemption.
This suggests that Arab politics are way beyond redemption and reform, Arab economies are far too backward to pick up, and social malaise is far too strongly entrenched to even attempt dealing with.
Whether or not they still call themselves Catholic, these men feel a different cultural pull, one that says no person, however evil his deeds, is beyond redemption.