redemption

A recovery back of property by payment of money or performance or other condition. A regaining of property taken from one, as under a mortgage, by paying what is due. Miller v Rafterman, 47 Ohio St 141, 156, 24 NE 496. The obtaining of pledged property by the pledgor from the pledgee upon payment, or tender of payment, of the debt secured by the pledge. 41 Am J1st Pldg & Col § 103. A right granted by statute to the owner, junior lienor, or other person interested in property sold at judicial sale of regaining the property from the purchaser by payment or performance of other conditions prescribed by the statute. 30A Am J Rev ed Jud S §§ 232 et seq. The obtaining by the debtor in execution, lienor, or other person interested of property sold under the writ upon compliance with the conditions prescribed by statute, especially the payment of the amount paid by the purchaser with interest thereon. 30 Am J2d Exec § 522. The equitable right of the mortgagee under a chattel mortgage, or one in privity with him, to obtain the property upon satisfaction of the debt secured, even after condition broken. 15 Am J2d Chat Mfg § 239. The obtaining of one's impounded animal upon payment of the damages caused by it to the property of another and the expenses of impounding and care of the animal. 4 Am J2d Am § 44. The right to redeem from a mortgage after a foreclosure sale thereunder is purely statutory, and can be exercised only by those to whom it is given by the statute, and in the method prescribed by the statute conferring the right. 37 Am 3 J1st Mfg § 823. See equity of redemption.