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, 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 ?
162(k): This provision prohibits deductions for payments made in connection with a stock redemption. According to the legislative history, this section was enacted to clarify that all expenditures by a corporation incurred in buying its own stock are nonamortizable capital expenditures; see H Rep't No.
To be treated as an exchange, a corporate redemption most be a complete termination of the shareholder's interest, a substantially disproportionate redemption or a redemption not essentially equivalent to a dividend.
302's requirements can avoid recharacterizing a stock redemption from a capital transaction to a dividend.
Deemed redemption rule: Under this rule, a partner recognizes gain whenever a transaction effectively results in the exchange of his or her interest in appreciated property for an interest in stock of the partner owned, acquired or distributed by the partnership.
Further, the company said that the redemption will be made under the terms specified in the redemption notices sent to holders and the acting redemption agent is Computershare Trust Company NA.
The sale typically negotiated in a buy-sell agreement usually takes one of two forms: "redemption" by the company or "cross-purchase" between shareholders?
162(k) as incurred in connection with a stock reacquisition; it explained that, although the phrase "in connection with" has a broad meaning, legislative history indicates that it is not intended to deny a deduction for an otherwise deductible amount simply because the payment is proximate in time to or arises out of the same circumstances as a redemption. In fact, a specific example in the legislative history appears to mirror the facts in Chief Industries; see H.
197, using dictionary definitions of "acquisition" and "redemption" and concluded that Y's redemption was an acquisition under Sec.
The final regulations address marital-related stock redemptions, in general, and contain a special rule that allows spouses or former spouses to agree as to which party will be taxed on the stock redemption.
Generally, there are three types of buy-sell agreements: redemption agreements (also called entity agreements), cross-purchase agreements and combination agreements.
Unisys Corporation, said that it has completed its previously announced redemption of $84,525,000 of its 12.5% senior notes due 2016.
An open question is whether variations on the transaction highlighted by the notice would include redemptions of stock held by domestic corporations to which the dividends-received deduction is available or intra-consolidated group redemptions.