KJV Dictionary Definition: redemption
REDEMP'TION, n. L. redemptio. See Redeem.
1. Repurchase of captured goods or prisoners; the act of procuring the deliverance of persons or things from the possession and power of captors by the payment of an equivalent; ransom; release; as the redemption of prisoners taken in war; the redemption of a ship and cargo.
2. Deliverance from bondage, distress, or from liability to any evil or forfeiture, either by money, labor or other means.
3. Repurchase, as of lands alienated. Lev. 25. Jer. 32.
4. The liberation of an estate from a mortgage; or the purchase of the right to re-enter upon it by paying the principal sum for which it was mortgaged with interest and cost; also, the right of redeeming and re-entering.
5. Repurchase of notes, bills or other evidence of debt by paying their value in specie to their holders.
6. In theology, the purchase of God's favor by the death and sufferings of Christ; the ransom or deliverance of sinners from the bondage of sin and the penalties of God's violated law by the atonement of Christ.
In whom we have redemption through his blood. Eph. 1.