The following is an excerpt from Training Hearts, Teaching Minds: Family Devotions Based on the Shorter Catechism by Starr Meade:
In Old Testament times, land was very important to people because most people were farmers. A farmer has to have land in order to farm. Sometimes, though a person would become so poor that he would have to sell his land. In Old Testament times, a family member called a redeemer would buy back the poor person’s land, and then return it to him. A redeemer paid a price to buy something back for someone who had originally owned it.
Jesus is the redeemer of God’s people. God’s people have always belong to Him, but sin separated them from Him so they could not be called His people. With His own blood, Jesus paid the great price to buy God’s people back for the One to whom they really belonged.
And they sang a new song, saying, “Worthy are you to take the scroll and to open its seals, for you were slain, and by your blood you ransomed people for God from every tribe and language and people and nation… (Revelation 5:9, ESV)
The only Redeemer is the Lord Jesus Christ, the eternal Son of God, in whom God became man and bore the penalty for sin himself.