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 ?
Some 500 buy-to-let mortgaged properties were repossessed in the third quarter of 2018, 17% fewer than in the third quarter of 2017.
We discovered that the suspect had repossessed the jaguar but failed to deliver it to the bank to be auctioned.
This bleak picture for repossessed properties is in sharp contrast to other segments of the Spanish housing market.
The "Rack City" rapper recently got his Ferrari repossessed, according to several reports.
During the first half of the year, 4,000 properties were repossessed, according to the Council of Mortgage Lenders (CML).
The department contended the credit union violated the Servicemembers Civil Relief Act because it repossessed a vehicle without a court order after the owner made a deposit or installment payment on the loan before entering military service.
One of his tenants in Glasgow is being thrown out of his home because it is being repossessed.
They would be forced to sell their properties or could risk having their homes repossessed unless they find the necessary funds, it added.
It's an unpleasant fact that people who are about to have their home repossessed often take it out on the property itself.
The Bank of Scotland raised a legal action against him and the property was repossessed.
The aim of an in-house NLP division is to pro-actively manage problematic loans and 'wind-down' currently repossessed (or to be repossessed) assets with a view to maximise recovery value with no immediate time pressures (note that there are also social-economic implications that the policyholders need to address with mass liquidations and disposal of real estate in an area where there is currently no market liquidity).