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redeem |
Also found in: Dictionary/thesaurus, Legal | 0.01 sec. |
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redeem (1) In mortgages, to cure a default by paying all past-due sums and penalties after receiving notice of default, but before acceleration. (2) To exercise the post-foreclosure right of redemption, if allowed. (3) Under federal law, the IRS has 120 days after foreclosure to purchase property on which it had a lien—to redeem the property. (It rarely does this,and would only do so if it believed it could sell the property at a profit large enough to justify the time and trouble.) How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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red herring Red-lining reddendum clause redeem Redeemable redeemable ground rents redeemable rent redeems Redemption redemption charge Redemption Cushion redemption date Redemption Fee Redemption or Call redemption premium |
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