Repossession

usgb/ˌriːpəˈzeʃn/
noun

Taking back property because of a failure to meet the terms of a contract, especially a mortgage or lease agreement.

The bank initiated a repossession of their house after they failed to make mortgage payments for several months.
Visual representation of "repossession" - Taking back property because of a failure to meet the terms of a contract, especially a mortgage or lease agreement

Often appears as...

  • house repossession
  • car repossession
Definition 1 of 2
Visual representation of "repossession"
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Negative Connotation

Repossession often implies financial distress and can invoke a sense of loss or injustice.

Illustration for Negative Connotation
The family dreaded the repossession of their farm.
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Legal Process

Repossession usually involves legal procedures and may require court action.

Illustration for Legal Process
He received legal notice about the repossession of his car.
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Contract Importance

Understanding contract terms can prevent surprise repossessions.

Illustration for Contract Importance
Neglecting the fine print in her lease led to the repossession of her belongings.
Word comparison image

Compare with

acquisconfiscateexpropriateforfeiturereclamationretrievalseizuretake over
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Visual representation of the word "Repossession"

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