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Vine's Expository Dictionary of NT Words
a strengthened form of agorazo, "to buy" (see BUY , No. 1), denotes "to buy out" (ex for ek), especially of purchasing a slave with a view to his freedom. It is used metaphorically (a) in Galatians 3:13; 4:5 , of the deliverance by Christ of Christian Jews from the Law and its curse; what is said of lutron (RANSOM, No. 1) is true of this verb and of agorazo, as to the Death of Christ, that Scripture does not say to whom the price was paid; the various suggestions made are purely speculative; (b) in the Middle Voice, "to buy up for oneself," Ephesians 5:16; and Colossians 4:5 , of "buying up the opportunity" (RV marg.; text, "redeeming the time," where "time" is kairos, "a season," a time in which something is seasonable), i.e., making the most of every opportunity, turning each to the best advantage since none can be recalled if missed.Note: In Revelation 5:9; 14:3,4 , AV, agorazo, "to purchase" (RV) is translated "redeemed." See PURCHASE.
"to release on receipt of ransom" (akin to lutron, "a ransom"), is used in the Middle Voice, signifying "to release by paying a ransom price, to redeem" (a) in the natural sense of delivering, Luke 24:21 , of setting Israel free from the Roman yoke; (b) in a spiritual sense, Titus 2:14 , of the work of Christ in "redeeming" men "from all iniquity" (anomia, "lawlessness," the bondage of self-will which rejects the will of God); 1 Peter 1:18 (Passive Voice), "ye were redeemed," from a vain manner of life, i.e., from bondage to tradition. In both instances the Death of Christ is stated as the means of "redemption."Note: While both No. 1 and No. 2 are translated "to redeem," exagorazo does not signify the actual "redemption," but the price paid with a view to it, lutroo signifies the actual "deliverance," the setting at liberty.
"a redemption" (akin to A, No. 2), is used (a) in the general sense of "deliverance," of the nation of Israel, Luke 1:68 RV, "wrought redemption;" Luke 2:38; (b) of "the redemptive work" of Christ, Hebrews 9:12 , bringing deliverance through His death, from the guilt and power of sin. In the Sept., Leviticus 25:29,48; Numbers 18:16; Judges 1:15; Psalm 49:8; 111:9; 130:7; Isaiah 63:4 .
a strengthened form of No. 1, lit., "a releasing, for (i.e., on payment of) a ransom." It is used of (a) "deliverance" from physical torture, Hebrews 11:35 , see DELIVER , B, No. 1; (b) the deliverance of the people of God at the coming of Christ with His glorified saints, "in a cloud with power and great glory," Luke 21:28 , a "redemption" to be accomplished at the "outshining of His Parousia," 2 Thessalonians 2:8 , i.e., at His second advent; (c) forgiveness and justification, "redemption" as the result of expiation, deliverance from the guilt of sins, Romans 3:24 , "through the redemption that is in Christ Jesus;" Ephesians 1:7 , defined as "the forgiveness of our trespasses," RV; so Colossians 1:14 , "the forgiveness of our sins," indicating both the liberation from the guilt and doom of sin and the introduction into a life of liberty, "newness of life" (Romans 6:4 ); Hebrews 9:15 , "for the redemption of the transgressions that were under the first covenant," RV, here "redemption of" is equivalent to "redemption from," the genitive case being used of the object from which the "redemption" is effected, not from the consequence of the transgressions, but from the trangressions themselves; (d) the deliverance of the believer from the presence and power of sin, and of his body from bondage to corruption, at the coming (the Parousia in its inception) of the Lord Jesus, Romans 8:23; 1 Corinthians 1:30; Ephesians 1:14; 4:30 . See also PROPITIATION.
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Vines, W. E., M. A. Entry for 'Redeem, Redemption'. Vine's Expository Dictionary of NT Words. https://www.studylight.org/dictionaries/eng/ved/r/redeem-redemption.html. 1940.