Source : Webster's Revised Unabridged Dictionary (1913)

Re-demption \Re-demp"tion\ (-sh?n), n. [F. r['e]demption, L.
   redemptio. See {Redeem}, and cf. {Ransom}.]
   The act of redeeming, or the state of being redeemed;
   repurchase; ransom; release; rescue; deliverance; as, the
   redemption of prisoners taken in war; the redemption of a
   ship and cargo. Specifically:
   (a) (Law) The liberation of an estate from a mortgage, or the
       taking back of property mortgaged, upon performance of
       the terms or conditions on which it was conveyed; also,
       the right of redeeming and re["e]ntering upon an estate
       mortgaged. See {Equity of redemption}, under {Equity}.
   (b) (Com.) Performance of the obligation stated in a note,
       bill, bond, or other evidence of debt, by making payment
       to the holder.
   (c) (Theol.) The procuring of God's favor by the sufferings
       and death of Christ; the ransom or deliverance of sinners
       from the bondage of sin and the penalties of God's
       violated law.

             In whom we have redemption through his blood.
                                                  --Eph. i. 7.