redemption

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1. Exchanging a coupon, trading stamp, or similar device for a discount or premium.

2. Percentage of coupons or trading stamps actually turned in; also called redemption rate.

1. Repayment of a debt security or preferred stock issue by payment of the principal at maturity, or at an earlier date if the issuer calls the security and pays a premium to debt security holders. Also, the liquidation of mutual fund shares by selling shares back to the fund's investment manager at the Net Asset Value price.

2. Mortgagor's right, called the Equity of Redemption to recover foreclosed property by paying principal and interest due, plus the lender's out-of-pocket costs.

3. In bankruptcy, the right of a debtor to reclaim personal property by paying creditors the estimated fair market value of assets secured by a lien.

The Hebrew roots conveying the meaning of redemption, padah and ga'aI, imply the prior existence of an obligation towards another and were originally used in the context of commercial transactions, indicating release from debt. The word yeshu'ah, often translated as "salvation," referred originally to deliverance from difficulties. These terms were extended to refer to triumph over all oppressive conditions and also to the deliverance of the individual from sin. The predominant use of the terms in prophetic and rabbinic literature applies to national restoration and regeneration, as well as to an ultimate ideal state of the universe.

In the Bible, padah and ga'al are applied to financial "redemption" of ancestral land from another to whom it had been sold (Lev. 25:25, 26); financial "redemption" of a member of one's family from servitude to another due to debt (Lev. 25:48-49); as well as "redemption" of a home, field, ritually impure animal, or agricultural tithe which has been dedicated to the Sanctuary (by giving the financial value plus one-fifth in lieu of it) (Lev. 27).

Ga'al is also employed in relation to a deceased relative who dies childless and whose brethren were obligated to "redeem" the name of the deceased, i.e., save it from extinction by insuring the continuity of his seed, lands, and thus filial tribute (Ruth 4:1-10; Deut. 25:5-10).

In the case of murder, the go'el (redeemer) was the Blood Avenger who sought to requite the wrong in kind, redeeming thereby, if not the soul of the deceased, at least the honor that had been desecrated (Num. 35:12-29).

The original meaning of the root yasha (similarly yeshu'ah, teshu'ah) is "to make wide," i.e., to deliver from distress caused by enemies. Accordingly, yasha and its derivatives express "victory" (as in Judg. 25:12; I Sam. 2:1, 14:54; Isa. 49:8) and the impassioned prayer hoshi'ah-na (i.e., "hosanna," Ps. 118:25; see Hoshanot) should be translated "give victory."

The one who leads to victory is therefore the moshi'a, i.e., savior (e.g., Judg. 3:9, 15, 6:36, 37; I Sam. 25:4, 26; Ps. 44:4; Job 26:2). This "victory," however, is to be found, above all, in faith in God which enables man to triumph over adversity (Ps. 62:2-8, 69:30).

These terms were naturally extended to the activity of God Himself. He is seen as the Redeemer who in His special care for the orphan and widow, the poor and oppressed, liberates the vulnerable from their tribulations (II Sam. 4:9; I Kings 1:29; Job 19:25; Ps. 68:6). He also redeems from sin (Ps. 130:8) even though, as it is seen as the fruit of free will, redemption from sin is generally understood as within the power of the individual to effect through sincere contrition and self-rehabilitation---i.e., returning to God and His path (e.g., Isa. 55:7; Jer. 4:1; see Repentance). Above all, God was seen as demonstrating His redemptive character in the Exodus from Egypt, the paradigm of Redemption.

National redemption became the primary focus of the concept in the wake of military defeats, foreign rule, and ultimately, the destruction of the Temple and subsequent exile. Inasmuch as the latter events were understood to be a consequence of infidelity to the Divine Covenant, the people's repentance and regeneration are crucial to the redemptive process. Perceptions differ, however, as to whether this activity is itself the initiative for, or the product of, redemption. For example, Amos and Hosea (in keeping with Deut. 30) see the people's repentance as the a priori requirement initiating their redemption, whereas in the latter part of the Book of Isaiah and in Micah, only Divine initiative is viewed as capable of effecting redemption. Even more explicit is the predominant perception in Ezekiel of a national spiritual rehabilitation taking place only after redemption, which is portrayed as emanating not only from Divine initiative but from the Divine need that God's name be sanctified among the nations (36:22-23).

Jeremiah resolves the tension by portraying a two-way process. While the initiative must come through the people's repentance, redemption can only be brought about fully by God Himself. However, throughout prophetic literature God is seen as the Redeemer who preserves the remnant, ingathers the exiles, and restores the people to its inheritance and glory, ultimately ushering in an era of human perfection and universal harmony in a world imbued with His spirit (e.g., Isa. 11:10, 52:10; Zech. 14:9, 16).

The role of the Messiah, therefore, is not that of the Redeemer, for God alone is the Savior. While the Messiah was established as shepherd of God's flock (Ezek. 34:23), the national hope for Redemption was centered on God Himself. Notable in this regard is the frequent absence of a Messianic personality in prophetic visions of redemption. This is also the case in Apocryphal works such as Tobit and Ecclesiaticus.

The social and political upheaval of the last centuries BCE culminating in the destruction of the Temple in 70 CE stimulated the development of apocalyptic and utopian trends regarding the hope for national redemption which would precede universal salvation. The Dead Sea sect, however, saw itself as the subject of ultimate cosmic redemption through which God brings purification for all.

The rabbis of the Mishnah and Talmud were themselves influenced by these apocalyptic and utopian trends, but generally they retained a realistic orientation towards a religious-national-political restoration that takes place within history itself. The term ge'ulah is used almost exclusively in rabbinic literature in this context. In accordance with biblical prophecy, the rabbis looked forward to a regenerative Messianism in which the Israelite monarchy is reestablished, the nation is delivered from foreign servitude, the exiles are ingathered, and finally the Temple is rebuilt. This would then herald a spiritual redemption of mankind as a whole. Perhaps the most notable mystical element that they introduced into the concept of Redemption was the suggestion that the Divine Presence itself is in exile with the people of Israel. Thus in redeeming His people, God, so to speak, redeems Himself (Mekh. Bo 14; Sif. Numbers 161).

The difference of perception regarding the redemptive initiative continues in rabbinic literature (cf. Sanh. 97-98). In consonance with the views of Jeremiah is the effort to resolve the tension by portraying redemption as a joint endeavor. Notable in this regard is the passage from Song of Songs Rabbah 5.2 in the name of R. Yessa: "The Holy One, Blessed be He, said to Israel: 'My children, open for me an aperture of repentance as small as a needle's eye and I will open for you an opening through which wagons and carriages can enter."

The differing perspectives on the initiative in redemption that ultimately lead to a naturalist or supernaturalist view of the process are also to be found both within Jewish medieval philosophy aand within Jewish mysticism.

Among the philosophers, Saadiah Gaon, Judah Halevi, Naḥmanides, Ḥasdai Crescas, and Joseph Albo portray national redemption in supernatural terms. In contradistinction, Maimonides, Ibn Gabirol, Abraham Ibn Ezra, and Levi Ben Gershon, strongly influenced by Neo-platonic and Aristotelian concepts, see personal redemption as a transcendence of the material dimensions of existence through the Higher Intellect, thus developing the spiritual soul and ultimate immortality. In the same way redemption is wrought not only for Israel but for the world through a commensurate corporate raising of the intellect and spirit (cf. Maimonides, Guide III, 11).

The difference in emphasis regarding the initiative in national redemption is also found within Kabbalah. For the kabbalists, exile reflected the impaired condition of Creation. The redemption of the Jewish people and the universal recognition of God's Presence and Name, would mean full reparation. However, while the Spanish kabbalists saw the redemption as essentially a miraculous event unrelated to human endeavor, the alternative view, identified particularly with the followers of Isaac Luria, was that redemption is no more than an external manifestation of internal tikkun (restitution or reconstitution) which depends on the deeds of Israel and its way of life. Redemption was thus seen as dependent on human action which initiates the advent of the Messiah. As it was this outlook that had nurtured the Shabbatean debacle (see Shabbetai Tsevi), the ensuing Ḥasidic movement (see ḥasidim), which also embraced Lurianic Kabbalah, sought to mute the inherent dangers of utopianism. This was accomplished by reverting to the traditional teaching of distinguishing between personal and national redemption. The former is seen as concerning solely the mystical redemption of the soul and is divested of any Messianic connotations. Accordingly, it is to this realm that human initiative is limited, while the Divine is seen as bringing ultimate national and cosmic redemption.

On the other hand, modern Jewish philosophy (including Herman Cohen, Martin Buber, Franz Rosenzweig) overwhelmingly understood the initiative of personal redemption to be the means by which national and universal redemption are achieved. The latter is thus generally identified with the ultimate triumph of good over evil.

It was also such perception which led Classical Reform Judaism to see redemption primarily in terms of social reform and advancement in modern society. Accordingly, it sought to divest the idea of any particular Jewish national political character. Thus, during the late 19th and early 20th centuries, it opposed the most dramatic modern activist movement in the cause of Jewish national redemption, namely, Zionism. The latter was also bitterly opposed on the other extreme of the Jewish religious spectrum by ultra-Orthodoxy, which perceived it as an act of rebellion against the Divine Will that alone could initiate redemption.

Religious Zionism, as conceived both by the precursors of the Zionist movement and especially by those who led the various ideological movements, saw Zionism as the expression and initial fulfillment of the Divine calling for human initiative in national redemption, facilitating the ultimate redemption of mankind as a whole.

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This entry contains information applicable to United States law only.

The liberation of an estate in real property from a mortgage.

Redemption is the process by which land that has been mortgaged or pledged is bought back or reclaimed. It is accomplished through a payment of the debt owed or a fulfillment of the other conditions.

The return of an investor's principal in a fixed income security, such as a preferred stock or bond; or the sale of units in a mutual fund. A redemption occurs, in a fixed income security at par or at a premium price, upon maturity or cancellation by the issuer. Redemptions occur with mutual funds, at the choice of the investor, however limitations by the issuer may exist, such as minimum holding periods.

Investopedia Says:
Redemption of mutual fund shares from a mutual fund company must occur within seven days of receiving a request for redemption from the investor. Some mutual funds, may have redemption fees attached, in the place of a back-end load. It is important to note which units should be redeemed when choosing to sell mutual funds within a portfolio.

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A cynical view of the world by Ambrose Bierce

n.

Deliverance of sinners from the penalty of their sin, through their murder of the deity against whom they sinned. The doctrine of Redemption is the fundamental mystery of our holy religion, and whoso believeth in it shall not perish, but have everlasting life in which to try to understand it.

    We must awake Man's spirit from his sin,
        And take some special measure for redeeming it;
    Though hard indeed the task to get it in
        Among the angels any way but teaming it,
        Or purify it otherwise than steaming it.
    I'm awkward at Redemption -- a beginner:
    My method is to crucify the sinner.
                                                           Golgo Brone

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For a list of words related to redemption, see:

• Practice and Doctrine - redemption: salvation and deliverance from evil, esp. through Christ’s act of mercy toward humankind
• Religious States and Experiences - redemption: salvation, deliverance from sin or evil
• Fate - redemption: deliverance from a state of sin

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See words rhyming with "redemption."

This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)

Dansk (Danish)
n. - frelse, forløsning, uopretteligt

idioms:

• beyond redemption    ikke til at redde
• past redemption    håbløst fortabt

Nederlands (Dutch)
aflossing, amortisatie, verlossing, dat wat ver-/in-/aflost etc. onverbeterlijk

Français (French)
n. - (Fin) remboursement, purge (d'une hypothèque), dégagement, (Relig) rédemption

idioms:

• beyond redemption    irrémédiable, irréparable, irrécupérable
• past redemption    irrémédiable, irréparable, irrécupérable

Deutsch (German)
n. - Abzahlung, Einlösen, Rückkauf, Erlösung, Rettung

idioms:

• beyond redemption    rettungslos verloren, völlig ausweglos
• past redemption    rettungslos verloren, völlig ausweglos

Ελληνική (Greek)
n. - εξαγορά, εκπλήρωση, (απο)λύτρωση, σωτηρία, (οικον.) εξόφληση δανείου

idioms:

• beyond redemption    ανεπανόρθωτος
• past redemption    ανεπανόρθωτος

Italiano (Italian)
redenzione, rimborso, riscatto

idioms:

• past/beyond redemption    incorreggibile

Português (Portuguese)
n. - redenção (f)

idioms:

• past/beyond redemption    sem esperanças

Русский (Russian)
искупление

idioms:

• past/beyond redemption    без надежды на спасение

Español (Spanish)
n. - redención, amortización, pago

idioms:

• beyond redemption    irremediable, incorregible, más allá de toda redención
• past redemption    irremediable, incorregible

Svenska (Swedish)
n. - frälsning, räddning, infriande

中文（简体）(Chinese (Simplified))
赎回, 偿还, 清偿, 买回, 履行, 实践

idioms:

• beyond redemption    不可救药, 不可挽回
• past redemption    不可挽回的, 无药可救的

中文（繁體）(Chinese (Traditional))
n. - 贖回, 償還, 清償, 買回, 履行, 實踐

idioms:

• beyond redemption    不可救藥, 不可挽回
• past redemption    不可挽回的, 無藥可救的

한국어 (Korean)
n. - 구원, 구속, 보상물

idioms:

• beyond redemption    회복할 가망이 없는

日本語 (Japanese)
n. - 買い戻し, 請け戻し, 身請け, 救出, 履行, 償い, 償却, 罪のあがない, 償還, 補償

idioms:

• past/beyond redemption    回復の見込みのない, 済度しがたい

العربيه (Arabic)
‏(الاسم) إسترداد, إفتداء, تخليص من الخطيئه, أعتاق‏

עברית (Hebrew)
n. - ‮פדיון, ישועה, הצלה, קיום, כפרה, גאולה, פיצוי‬

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