The term “Ablöserecht” can be translated into 2 different English terms. Click on one that matches your context.

  1. 1. redemption
  2. 2. right to payoff another's debt to protect one's property interest

Ablöserecht

Substantiv

Partial

redemption

noun

Neologism

right to payoff another's debt to protect one's property interest

Definitions of Ablöserecht

  • (also referred to in German as “Ablösungsrecht “)

    the right of a third party to satisfy a claim that an obligor (debtor) owes to the obligee (creditor) by rendering performance by the obligee in order to prevent a judgment from being enforced against certain collateral (§ 268 BGB). This right is held not only by the obligor who owes the payment to the obligee, but also by a third party (including the holder of the collateral) who has a right to the collateral that could be lost in the event of enforcement. Upon discharge, the claim against the obligor passes to the third party.

Definitions of redemption

  • the action of regaining or gaining possession of something, or of clearing the title to a property of charges, in exchange for full payment of a debt

    "If a mortgage agreement does not specifically provide for redemption of the mortgage property it is unenforceable in law."

  • the sale of shares that a person or entity owns in a company

    "We may need to consider redemption of the BritAcc shares in order to finance the takeover."

Phrase Bank for redemption

  • Redemption Date” shall mean the date fixed by the General Partner for the redemption of any Partnership Interests pursuant to Article XV.

  • Terms and conditions of redemption shall be as set forth in resolutions adopted by the Board of Directors.

  • If at any time less than all of the shares of such Preferred Stock then outstanding shall be called for redemption, the Board of Directors may …

  • In the event of a partial redemption, the shares to be redeemed will be chosen, to the extent possible, pro rata, among the holders.

  • Redemption. (a) Redemption Rights

  • Such holder of Series A Preferred Stock shall provide the Corporation with a written notice (the “Redemption Notice“) of its intention to exercise its right of redemption.

  • Further, any Preferred Share acquired by the Company by reason of redemption, repurchase, conversion or otherwise shall be cancelled.

  • The calculation of the amount which Employee is entitled upon making a proper Redemption Request shall be made in accordance with the Plan.

Additional Notes for redemption

  • redeem (verb) to exchange some type of paper worth a particular amount of money for that amount of money or something of equal value; to buy back or repurchase: Proceeds will be used to redeem preference shares and pay the flotation costs of £5.2m.

Comparative law notes and translator tips

  • Although Ablöserecht is often translated as “right of redemption” and does indeed fit into the parameters of the concept of redemption, we suggest steering clear of that translation since it is linguistically close to “redemption right”, which is the right of the investors to force a company to repurchase their shares. We recommend using the longer neologism listed here.

Comparative law notes and translator tips

  • The closest concept in Anglo-American law is “equitable subrogation”, which is a legal doctrine that allows a party that has made payments on behalf of another party to lay claim to the recovery of damages or funds from a third-party. Equitable subrogation is a legal concept that allows one party to replace another party when it comes to a legal right. It is most commonly associated with the insurance industry, specifically in relation to the settlement of claims.

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