repossess

American  

[ree-puh-zes] / ˌri pəˈzɛs /

verb (used with object)

1. to regain ownership of; to take back, especially for failure to make due payment.

   After the first few payments, the buyer defaulted on the contract, and we were forced to repossess the piano.

2. to give (someone) ownership of something again; restore something to (used withof ).

   In 1814, a coalition of European powers defeated Napoleon and repossessed the ousted Bourbons of their throne.

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repossess British  

/ ˌriːpəˈzɛʃən, ˌriːpəˈzɛs /

verb

1. to take back possession of (property), esp for nonpayment of money due under a hire-purchase agreement

2. to restore ownership of (something) to someone

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Other Word Forms

• repossessable adjective
• repossession noun
• repossessor noun
• unrepossessed adjective

Etymology

Origin of repossess

First recorded in 1485–95; re- + possess

Example Sentences

These auto-loan figures exclude accounts that are regarded as “seriously derogatory,” which refer to severely delinquent, charged-off or repossessed debts that are usually shut down and written off by lenders.

From MarketWatch

The family soon found they were falling behind on payments and were under threat of having their home repossessed.

From BBC

A who’s who of high finance caught foreclosure fever, dispatching buyers to courthouse steps with duffel bags of cashiers checks to buy repossessed homes.

From The Wall Street Journal

Lesley Bates KC, prosecuting, previously said the bodies of two elderly men were found by court agents who were repossessing the premises because of debts including more than £13,000 in unpaid rent.

From BBC

Allowing the lender to repossess the vehicle is one option.

From MarketWatch

Related Words

• retake