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  • Repossession — is generally used to refer to a financial institution taking back an object that was either used as collateral or rented or leased in a transaction. Note that repossession is a self help type of action in which the party having right of ownership …   Wikipedia

  • repossession — re·pos·ses·sion /ˌrē pə ze shən/ n: the act or an instance of repossessing Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. repossession …   Law dictionary

  • repossession — To recover goods sold on credit when a person fails to pay for those goods. Rules respecting repossession vary from state to state (SA United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • Repossession — Re pos*ses sion (r? p?z z?sh ?n or p?s s?sh ?n), n. The act or the state of possessing again. [1913 Webster] …   The Collaborative International Dictionary of English

  • repossession — Taking physical possession of personal property collateral pledged to secure a defaulted loan. American Banker Glossary * * * repossession re‧pos‧ses‧sion [ˌriːpəˈzeʆn] noun [countable, uncountable] FINANCE PROPERTY the act of repossessing… …   Financial and business terms

  • repossession — [[t]ri͟ːpəze̱ʃ(ə)n[/t]] repossessions 1) N VAR The repossession of someone s house is the act of repossessing it. ...the problem of home repossessions. ...families facing repossession of their homes. 2) N COUNT You can refer to a house or car… …   English dictionary

  • repossession — To take back as when a seller or bank or finance company repossesses or takes back an item if the buyer misses an installment payment. To recover goods sold on credit or in installments when the buyer fails to pay for them. U.C.C. No. 9 503. The… …   Black's law dictionary

  • repossession — repossess ► VERB ▪ retake possession of (something) when a buyer defaults on payments. DERIVATIVES repossession noun repossessor noun …   English terms dictionary

  • repossession — noun see repossess …   New Collegiate Dictionary

  • repossession — noun a) The condition of being repossessed b) The act of repossessing …   Wiktionary

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