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v. 1) to collect funds, in addition to installment payments, from a person who owes a debt secured by property, and place them in a special account to pay property taxes and insurance when due. This protects the lender or seller from the borrower's possible failure to keep up the insurance or a mounting tax bill which is a lien on the property. 2) to take away records, money or property, such as an automobile or building, by government action pending the outcome of a criminal prosecution. The records may be essential evidence, or the money or property may be forfeit to the state as in illegal drug cases. (See: forfeit, forfeiture)
impoundverb appropriate, attach, confiscate, deerive of, distrain, hold in legal custody, remove, retain in custody, seize, sequester, sequestrate, take, take into cussody, take into legal custody, take over, take possession of
Associated concepts: impounding a jury, impounding property
See also: annex, arrogate, attach, commit, condemn, confine, confiscate, constrain, contain, deprive, detain, distrain, enclose, garnish, immure, impress, imprison, jail, lock, restrain, seize, sequester