Redemption – this term details the procedure of buying (something) back. In the Property Law redemption occurs in a situation where a vendor later buys the property back from the buyer. I.e. he returns the paid to him purchase price back to the buyer and receives again the title of property. In this way the seller exercises a right of redemption. In some jurisdictions where a mortgage transfers title to the lender until the mortgage is paid off, the “buying back” of the property is known as redemption. The origin of the term is the word “redeem”, which means to pay back a loan together with the interest on top of it; to restore money previously taken. The word “redemption has got application in the legal term “redemption from tax sale”, applicable in the area of Tax Law. There it details a procedure, available to any person who has interest in the real estate, to pay the due taxes and interests to the Authorities, in order to avoid execution and sale of this real estate. A synonym is “restitution”.

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