impound

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impound

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)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in periodicals archive ?
Last year, thousands of dogs were impounded. Those were captured mostly in subdivisions located in Talomo, Tugbok and Buhangin districts.
Pinili said only 10 to 15 percent of impounded dogs were claimed by their owners.
He said most of the impounded cars were abandoned by expats leaving the country after defaulting on loan repayments.
In 2015, the municipality issued 30,000 impoundment warning notices, and impounded 10,000 cars, he said.