Repossessing legal definition of repossessing
repossess (redirected from repossessing)
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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
"Although the bank was able to recoup the full value remaining on the car when it resold it, there was no distinction between me handing back the ear on my own accord and them repossessing
it," she says.
He said he was repossessing
the car and gave me five minutes get my things." Andrew, a 22-year-old labourer, offered to make good the missed payments immediately but was told his contract was terminated.
It was set up to establish grabbed government land by individuals or groups with a view of repossessing
it for public use.
The Ministry of Justice said that while there was no evidence that other lenders were repossessing
properties without court orders, it wanted to close the loophole.