Redemption is a multifaceted concept involving the regaining of possession by payment, typically found in contexts such as mortgages, tax sales, corporate stock purchases, and marketing incentives.
A Tax Sale refers to the sale of a property after a period of nonpayment of taxes. The grantee receives a Tax Deed. In many states, the defaulting party has a redemption period to repay the owed taxes, interest, and associated costs to reclaim the property.
