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