verb
- to take back possession of something, especially when payments have not been made
Usage: often used in financial contexts
Examples
- The bank will repossess the car if you miss three payments.
- They threatened to repossess our house due to unpaid mortgage.
- The finance company repossessed his motorcycle last week.
- She worked extra hours to avoid having her furniture repossessed.
- The landlord cannot repossess the apartment without proper notice.
- After defaulting on the loan, they repossessed all his equipment.