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What does redemption mean in legal terms?

all words any words phrase. redeem. v. to buy back, as when an owner who had mortgaged his/her real property pays off the debt. The term also refers to paying the amount due and all charges after a foreclosure (because of failure to make payments when due) has begun.

What does it mean to redeem the mortgage?

Mortgage redemption is the process of paying off the outstanding balance on your mortgage and any other fees associated with it. It can sometimes be one of the most exciting and satisfying payments youll ever make, as its the final step to living mortgage free.

What does call defeased mean?

Back. Call Defeased. Termination of certain of the rights and interests of the bondholders and of their lien on the pledged revenues or other security in accordance with the terms of the bond contract for an issue of securities.

What is redemption in sale?

Only certain jurisdictions offer statutory right of redemption, when owners can reclaim their homes after they have sold to another buyer. The redemption period, the time during which borrowers can pay back what they owe and reclaim their homes, also varies by state, with some states being more generous than others.

What does redeem mean in real estate?

Redemption is a period after your home has already been sold at a foreclosure sale when you can still reclaim your home. You will need to pay the outstanding mortgage balance and all costs incurred during the foreclosure process. Many states have some type of redemption period.

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