Redeemed
Definitions
- (adj.) Having fulfilled the conditions of a financial instrument or obligation, such as a bond or mortgage, by payment or exchange.
The redeemed bond is no longer outstanding.
- (v. (past participle)) Past participle of redeem, referring to the act of fulfilling or satisfying an obligation or reclaiming property through payment.
She redeemed the mortgage by paying off the loan early.
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Commentary
'Redeemed' is primarily a past participle form of 'redeem' and is also used adjectivally to describe financial instruments that have been paid off; definitions should clarify this to avoid redundancy.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.