The concept of redemption can be fully understood only by studying the Biblical context of people held captive by the power of forces they cannot defeat. Only through intervention can that slavery be broken and freedom accomplished, often by paying a ransom. In the Old Testament, God intervened on behalf of Israel, in the great redemptive event from Egypt. References in the Old Testament to redemption from sin, point forward to the redemption provided in Christ Jesus.
Many aspects of freedom can purchased with money. Even the most vicious criminal can be bailed out of jail by his friends, but it is temporary freedom at best. No person can break the bondage of another man's to sin. No person can redeem another human being. We are all slaves to sin. Jesus, however, paid the ransom with His blood, His death. The benefit of our redemption is to enjoy freedom from the guilt and the power of sin, and to live a life of service that reflects our new standing. That goal will be fully achieved only at the resurrection on the last day.
Redemption among humans
Redemption of an Israelite slave
Slave could redeem himself —Lev. 25:49
Slave could be redeemed by relatives —Lev. 25:48-49
Slave released in Year of Jubilee —Lev. 25:54
Redemption of property
A person could redeem his own land —Lev. 25:26-27
A relative could redeem the land —Lev. 25:25, 48-53
Land returned in the Year of Jubilee —Lev. 25:28, 39-43
Land could be redeemed through marriage —Ruth 4:1-12
Redemption by God
Natural redemption for Israelites
Israelites were slaves in Egypt —Gen. 15:13; Ex. 1:11-14; Dt. 5:15
Israelites redeemed through the exodus —Ex. 6:6; 2 Sam. 7:22-24; Ps. 106:8-10; Micah 6:4
Price paid was the destruction of Egypt —Isa. 43:3
Judah redeemed from Babylon —Isa. 54:5-8; Jer. 31:10-11; Micah 4:10
Spiritual redemption from sin
We need redemption
Everyone starts out a slave to sin —Jn. 8:34; Rom. 6:17
People cannot redeem each other —Ps. 49:7-8
God redeemed the Israelites —Ps. 130:8; Isa. 44:21-22; Lk. 1:68-71