- redemption
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re·demp·tion /ri-'demp-shən/ n: the act, process, or fact of redeeming see also equity of redemption, right of redemptionre·demp·tive /-'demp-tiv/ adj
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- redemption
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I
noun
deliverance, indemnification, reclamation, recovery, release, reparation, replevin, repossession, repurchase, rescue, restoration, retrieval, return, salvation
associated concepts: right of redemption
II
index
discharge (payment), freedom, indemnification, indemnity, liberation, progress, ransom, recovery (repossession), rehabilitation, replevin, restitution, salvage
Burton's Legal Thesaurus. William C. Burton. 2006
- redemption
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n.The act of redeeming; regaining possession of something by buying it back.v.redeem
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
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1) In Chapter 7 bankruptcy, when the debtor obtains legal title to collateral for a debt by paying the creditor the replacement value of the collateral in a lump sum. For example, a debtor may redeem a car note by paying the lender the amount a retail vendor would charge for the car, considering its age and condition.2) In foreclosure, the homeowner's right (usually granted by state statute), for a certain period of time, to redeem the mortgage and keep the house by refinancing and paying off the original mortgage.Category: Bankruptcy, Foreclosure & Debt → BankruptcyCategory: Bankruptcy, Foreclosure & Debt → Foreclosure
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
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USAIn a debt transaction, the repayment by a company of the principal amount of an outstanding debt before its maturity date. In an equity transaction, the return by a company of a stockholder's principal investment by buying back all or a portion of the equity securities held by such stockholder.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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n. A reclaiming or rebuying something by virtue of paying off a debt or settling some other predetermined condition of ownership; a buying back of its outstanding stock by a corporate entity; the right of a debtor to buy back property from someone who bought it at a creditor-initiated forced sale.
Webster's New World Law Dictionary. Susan Ellis Wild. 2000.
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The liberation of an estate in real property from a mortgage.
Dictionary from West's Encyclopedia of American Law. 2005.
- redemption
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The liberation of an estate in real property from a mortgage.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
- redemption
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n.the act of redeeming, buying back property by paying off a loan, interest and any costs of foreclosure.See also: redeem
Law dictionary. EdwART. 2013.
