Redemption
/rɪˈdɛmpʃən/
Definitions
- (n.) The act of reclaiming or recovering something by payment or clearing a debt.
The borrower sought redemption of the mortgage by paying off the remaining balance.
- (n.) In finance, the process of repurchasing or paying off a security or bond before maturity.
The company announced the redemption of its bonds ahead of schedule.
- (n.) The release from captivity, obligation, or sin through fulfilment of conditions or payment.
The contract included a clause for redemption upon fulfillment of contractual duties.
Forms
- redemptions
Related terms
Commentary
Often involves precise conditions; clarity in drafting payment terms prevents disputes regarding entitlement to redeem.
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.