Final answer:
When effecting conventional redemption, the vendor receives the original purchase price or an agreed-upon amount for reclaiming the property. This often includes additional costs like interest, taxes, and maintenance expenses. The specific entitlements will depend on the contract terms and local laws.
Step-by-step explanation:
When effecting conventional redemption, the vendor is to receive the full purchase price or the amount stipulated for the redemption of the property. In legal terms, redemption is the act of re-acquiring property by paying off a debt or fulfilling the terms of the contract. The vendor, in this case, is essentially buying back the property they once sold, often real estate, and the redemption typically occurs within a specified window of time as per the previously agreed upon contract.
Depending on the jurisdiction and the terms of the sale contract, the vendor may also be entitled to receive additional costs which could include interest on the purchase price, any taxes paid, and necessary maintenance expenses that were incurred to preserve the value of the property during the period before redemption. It is important to consult the original contract and any applicable laws to determine what the vendor is legally entitled to receive upon redemption.