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 ?
All regulatory requirements relating to the redemption of the Redeemed Shares have been satisfied by Wells Fargo & Company.
The shares of the Series A Preferred Stock (NYSE: MTBPr) and the shares of the Series C Preferred Stock (NYSE: MTBPrC) will be redeemed on August 30, 2019 (the "Redemption Date") at a redemption price of USD 1,000 per share, plus all accrued and unpaid dividends to, but excluding, the Redemption Date (the "Redemption Price").
It is indeed true that the Supreme Court allowed redemption in certain cases even after the lapse of the one-year period: (a) in order to promote justice and avoid injustice; or (b) where it upheld the policy of the law to aid rather than defeat the right of redemption was expressed, stressing that where no injury would ensue, liberal construction of redemption laws is pursued and the exercise of the right to redemption is permitted to better serve the ends of justice; or (c) that the rule was liberally interpreted in favor of the original owner of the property to give him another opportunity, should his fortunes improve, to recover his property.
This change is temporary since the same AGM also resolved on a redemption of the new shares.
The Series E Depositary Shares will be redeemed on December 28, 2018 (the "Redemption Date") at a redemption price of $25.00 per Series E Depositary Share, representing an aggregate amount of $200,000,000, plus all accrued and unpaid dividends from, and including, September 30, 2018 to, but excluding, the Redemption Date (the "Redemption Price").
On or before December 30, 2016, the Notes should be presented to The Bank of New York Mellon Trust Company, N.A., as paying agent for the redemption, at the address set forth in the Notice of Redemption for the Notes.
Assuming the redemption is not treated under applicable tax law as a constructive distribution to the other spouse (see the discussion later in this section), the transaction between the transferor spouse (the spouse who actually transfers shares to the corporation in exchange for redemption proceeds) and the corporation is taxed under the normal stock redemption rules (Regs.
The companies can, however, issue the said bonus shares subsequent to redemption of preference shares under Section 85 of the 1984 Companies Ordinance.
Lamar Media expects the notes to be redeemed on August 29, 2012 at a redemption price equal to 101.104% of the principal amount of outstanding Notes, plus accrued and unpaid interest to, but not including, the Redemption Date.
In either case, the redemption price will also include interest accrued on the notes to the redemption date, the company said.
John Massey found his calling in transforming the lives of young people when, as pastor of the Redemption Church of Christ, he was struggling to pay the tuition for his own children to attend Loudinville Christian School.
In Redemption, a world premiere, Ronald K Brown promised an extension of the pilgrims' progress toward spiritual and political activista seen in last year's Come Ye.