Redemption - Definition - Law Dictionary Home Dictionary Definition redemption

Definition :

Redemption, is the act of redeeming, which in its ordinary meaning is equal to bringing off a charge or obligation by payment--.By the down payment, the entire land revenue to be recovered from that land was redeemed.

Redemption, is the act of redeeming, which, in its ordinary meaning is equal to bringing off a charge or obligation by payment, Sarish Chandra v. CLT, AIR 1961 SC 487: (1961) 1 SCJ 495.

Redemption. 1. A paying off of a loan (see FUNDS). The term is used especially with reference to the paying off of a mortgage debt. An action of redemption is a suit brought to compel the mortgagee to recover the property to the mortgagor on the latter paying the mortgage debt. See EQUITY OF REDEMPTION; PROVISO FOR REDEMPTION.

2. Commutation or the substitution of one lump payment for a succession of annual ones: e.g., see the Land Tax and the Tithe Redemption Acts and many other statutes.

Redemption is the act of redeeming which in its ordinary meaning is equal to bringing off a charge or obligation by payment. To what extent this redemption freed the land or its holder from the obligation depends not so much upon what the obligation was before redemption as what remained of that obligation after it, Srish Chandra Sen v. CIT, AIR 1961 SC 487 (492): (1961) 2 SCR 598.

The act or an instance of reclaiming or regaining possession by paying a specific price, Black's Law Dictionary, 7th Edn.