We spoke about an animal that was blemished and then dedicated as a korban (sacrifice). Now we'll talk about animals that were first dedicated and later developed a blemish. This creates a problem because they have physical sanctity: they were dedicated first and developed a blemish later. The Mishnah says that even when they are redeemed, they retain some of their physical holiness. This applies to an animal that was first dedicated and afterward became blemished, or to one that had a temporary blemish before it was dedicated, then developed a permanent blemish and was redeemed. The following laws apply to them after they're redeemed.
They're exempt from the laws of Bechor (firstborns) and from the gifts that require giving parts of the animal to the Kohen (priest). The firstborns do not have the status of a Bechor, and the owners are not obligated to give these parts of the animals to the Kohen. When they're redeemed, they don't leave their holy state and become unconsecrated, which would make it permissible to shear their wool or put them to work. It's still forbidden to shear their wool or use them for work. Their offspring—their children—and the milk that comes from them after they're redeemed are still forbidden.
A korban that was unblemished, or had a temporary blemish—which we treat like a non-blemish—when it was dedicated has physical sanctity. It stays sacred even if it develops a permanent blemish later on. When this type of blemished korban is redeemed, it does not become completely unconsecrated. Rather, the animal still has a degree of holiness, which exempts it from the laws of Bechor, from matanot (gifts), and also means you'd be forbidden to benefit from it, shear it, work it, or use its offspring and milk. These are the laws that apply to this animal after the redemption, when it still has a little bit of holiness.
Now we'll talk about the laws that apply before the redemption. Even though we're talking about an animal that had a physical blemish, it still has full sanctity because it was dedicated when it didn't have a permanent blemish. If somebody slaughtered one of these animals outside the temple courtyard, they would be subject to karet, since it had not yet been redeemed and was considered a full korban. Karet is the punishment a person gets here for slaughtering the animal outside of the courtyard. They osim temurah: if another animal was designated in its place as a replacement for one of these korbanot, the second animal becomes fully sacred. And if it died without shechita (ritual slaughter), it cannot be redeemed, but it has to be buried. A blemished korban can be redeemed only if it will be eaten. Redemption is forbidden in the case of an animal that died without shechita. Since it is not redeemable, it has to be buried.