verb
- to take back possession of something, especially when payments have not been made
Usage: third person singular present tense
Examples
- The bank repossesses cars when owners fail to make loan payments.
- If he misses three more payments, the company repossesses his furniture.
- The landlord repossesses the apartment after the tenant breaks the lease.
- She worries that the credit union repossesses her motorcycle next month.
- The finance company repossesses items from customers who default on loans.
- When someone stops paying rent, the owner typically repossesses the property.