REDEMPTION

REDEMPTION redemption, n. 1. The act or an instance of reclaiming or regaining possession by paying a specific price. [Cases: Secured Transactions 241. C.J.S. Secured Transactions ¡ì 184.] 2. Bankruptcy. A debtor’s right to repurchase property from a buyer who obtained the property at a forced sale initiated by a creditor. [Cases: Bankruptcy 3034. C.J.S. […]

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