repossess


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repossess

v. to take back property through judicial processes, foreclosure, or self-help upon default in required payments.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

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.
Collins Dictionary of Law © W.J. Stewart, 2006
References in periodicals archive ?
We discovered that the suspect had repossessed the jaguar but failed to deliver it to the bank to be auctioned.
The suit contended the credit union - which is located in Bay City, Mich., and has assets of almost $104 million - illegally repossessed U.S.
"These men have paid their rent - it is not their fault that the house is being repossessed.
The families were informed they could remain in the properties for as long as they wanted under the tenancy agreement but because the mortgage applications were found to be based on false information, the lenders now have a right to repossess the homes.
An Executive Council resolution passed in April, allows developers to repossesses properties, retaining forty percent of their value, local media reported.
The Reserve Bank of India (RBI) has announced that Non Banking Financial Companies (NBFCs) can repossess assets in case consumers default on loans taken against them.
That's because whether you voluntarily return your car to the lender or it is repossessed, you are responsible for the lender's loss on the car and any fees covering that loss.
1038 to limit the gain recognized to the cash and property (other than the repossessed property) previously received from the buyer; a loss cannot be recognized.
People who obtained public land in Nandi county irregularly have 21 days to voluntarily return it or else the regional government will repossess it.
Homeless charity Shelter is currently working with Bill in a bid to stop court action by his mortgage company, which is threatening to repossess his home.
When repeated attempts to contact her failed, the shop's area manager attended her home on May 5 to repossess the goods.
The Government has announced plans to close a legal loophole which enables lenders to repossess people's homes without going to court.