Right of redemption
Right of redemptionThe right to recover property forfeited by foreclosure by paying the outstanding principal owed plus interest.
Right of redemptionThe right to recover property that has been attached by paying off the debt .
Right of redemption
Redemption dateRedemption date
The actual date on which repayment of a bond or loan stock takes place.
This is the right of the mortgagor to recover mortgaged property on repayment of the loan and any interest due. This legally means that once you as the borrower have finished repaying the mortgage you took out, the property is yours and the lender has no further claim on it. If you pay of the mortgage ahead of schedule you may face a redemption penalty which compensates the lender for loss of interest.
The re-purchase of a security, such as a bond or preferred stock, by the issuing company at or before maturity.
Redemption chargeRedemption charge
The commission a mutual fund charges an investor who is redeeming shares. For example, a 2% redemption charge (also called a back end load) on the sale of shares valued at $1000 will result in payment of $980 (or 98% of the value) to the investor. This charge may decline or be eliminated as shares are held for longer time periods.
Redemption statementRedemption statement
The outstanding amount to be repaid on an existing mortgage. Redundancy insurance Another form of income protection, but one that does not cover any form of sickness, injury or disability. The purpose of this type of policy is to replace income lost through a short to medium term period of redundancy. It provides you with a monthly tax-free income to cover a portion of your lost earnings. It is often sold in conjunction with the accident, sickness and disability element of income protection policies, in which case it is known as Accident, Sickness and Unemployment (ASU).
Further SuggestionsOverhanging redemption penalty
Mandatory redemption schedule
Extended redemption penalty
gross redemption yield
Preferred equity redemption stock (PERC)
Redemption penalty overhang