He is my Lord by right. I was a slave of sin and Satan, and, try as I would, I could not obtain my freedom. He is my Lord, for He has bought me. He has bought them, they are His. I am His, because He is my Lord, because He owns me, because He has bought me with His precious blood.
Redemption has two consequences.
First, it means we are free. Paradoxical as it may sound, to be purchased by Jesus is to be set free-free from the guilt and tyranny of the law and from sin's power. Yet this is a special kind of freedom. It does not mean that we are set free to do anything we might wish, to sin with impunity or once again fall back into the bondage of rebellion and unfaithfulness. We are released to serve God.