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The American Heritage Dictionary of Business Terms » right of redemption
right of redemption
right of redemption definition - business
right of redemption
The reasonable opportunity given to owners of property lost through a tax sale to reacquire the property. Redemption must normally occur within a specified period and entails a penalty plus the price paid for the property.
The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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