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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.


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


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 ?
Redemption graduates are found on the teams of such colleges as Sacramento State, Alabama, West Virginia, St.
The court affirmed a report by a magistrate judge who concluded that the redemption payments qualified as dividends under Sec.
Commenting on the redemption, Michael Maturo, Reckson's Chief Financial Officer, stated, "The redemption of our remaining outstanding preferred stock with newly issued common equity, will further strengthen our balance sheet, create additional financial flexibility and improve our dividend payout ratio.
If the redemption is considered a third-party transfer, Bert is deemed to transfer the stock to Sylvia; then Sylvia is deemed to transfer it to Xanadu in a redemption.
0 percent of the principal amount plus interest from November 15, 1993 to the redemption date.
302(c)(2) requires redeemed shareholders to disassociate from the corporation as equity holders, officers, directors or employees, for 10 years following the redemption.
On the other hand, if a share of Preferred Stock were not converted into Common Stock, the holder of such share would be entitled to receive on the Redemption Date only the redemption price of $25.
If a shareholder sells all his or her stock and completely terminates ownership of the corporation, the redemption is treated as an exchange.
Any of the Preferred Securities called for redemption and not converted on or before 5:00 p.
If the redemption is deemed "essentially equivalent to a dividend" and does not fit within any of the other Sec.
George said Oakwood would continue to consider redemption of those debentures in light of market prices for the common stock, but no decision has been made at this time.
The major advantage of a redemption is its simplicity; only the corporation and the deceased stockholder are involved.