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Redemption

Buying back. When a vendor later buys the property back.

Buying back.

When a vendor later buys the property back.

A right of redemption gives the vendor the right to buy back the property.

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.

A corporation may buy back (redeem) shares it had issued.

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Unless otherwise noted, this article was written by Lloyd Duhaime, Barrister, Solicitor, Attorney and Lawyer (and Notary Public!). It is not intended to be legal advice and you would be foolhardy to rely on it in respect to any specific situation you or an acquaintance may be facing. In addition, the law changes rapidly and sometimes with little notice so from time to time, an article may not be up to date. Therefore, this is merely legal information designed to educate the reader. If you have a real situation, this information will serve as a good springboard to get legal advice from a lawyer.

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