Definition of repossess in English:



[with object]
  • Retake possession of (something) when a buyer defaults on payments.

    ‘565 homes were repossessed for non-payment of mortgages’
    • ‘The City Council's official's response was that standing regulations entitled the council to repossess undeveloped pieces of land after a stipulated time frame.’
    • ‘If payment is not forthcoming, the bank repossesses the asset.’
    • ‘In many states, the lender can repossess your car without as much as a telephone call or written notice if you fall behind on one monthly payment.’
    • ‘They don't have to worry about resale values or market conditions - the legal ownership of the car remains with the finance company or lessor who may repossess the vehicle in the event of missed payments.’
    • ‘Former Mansa Batteries workers have supported Government plans to repossess the closed company and sell it to other investors.’
    • ‘According to the Red Cross, ‘We never repossess tents given to victims.’’
    • ‘Five different credit card companies were suing him, his car was repossessed and the police arrived to arrest him because of his debts.’
    • ‘He said as soon as the go-ahead was given after the meeting, the council would proceed to repossess the idle plots.’
    • ‘Car loans have been restricted by the lack of an effective procedure for recovering delinquent loans or repossessing vehicles from borrowers that default on repayments.’
    • ‘Remember, lenders don't want to bring homeowners to court or repossess their home.’
    • ‘If something prevents you from meeting your payments, your lender can repossess your home and sell it to pay off your debt.’
    • ‘Others in the oil industry have said that oil companies often take a tough stance when trying to repossess their filling stations from licensees.’
    • ‘This also means that, in certain situations, the finance company can repossess the car if you break the contract.’
    • ‘They got a court order to repossess the house and garage.’
    • ‘If the loan fails the bank will not repossess the goods, they will just chase you for the cash.’
    • ‘Once you've arrived at a figure, you can try to work out a deal with the defaulting party before the property is repossessed.’
    • ‘With a car loan, for example, the lender may demand payment instead of repossessing the car.’
    • ‘Figures from the UK government showed a rise in court actions to repossess homes, a further sign that rate rises were being felt.’
    • ‘When a lender forecloses and repossesses a piece of property for failure to make payments, what are the legal consequences for the borrower?’
    • ‘The financier can repossess the vehicle if you fail to make payments, but you are free to sell it as long as you agree to pay the outstanding debt.’
    retrieve, regain, regain possession of, get back, win back, take back, recoup, reclaim, recapture, retake, redeem
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