Repossesses legal definition of repossesses
repossess (redirected from repossesses)
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v. to take back property through judicial processes, foreclosure, or self-help upon default in required payments.
repossessverb capture, foreclose, obtain again, reacquire, recall, recapture, reclaim, recoup, recover, regain, replevy, retrieve, secure, seize, take back, take possession of
Associated concepts: attachment, security interest
See also: reclaim, recoup, recover, redeem
repossess to take back possession of property, especially for nonpayment of money due under a hire-purchase agreement. The right is circumscribed in many systems.
References in periodicals archive
When a credit union repossesses a vehicle, it is faced with several issues.
After a credit union repossesses a vehicle and delivers it to Aimbridge Disposition Service's secured lot, Aimbridge takes the vehicle into its services center.