Definition, Meaning & Synonyms
repossess
verb
/ˌriː.pəˈzɛs/
Definition
To take back possession of something, especially property that was previously owned or financed but not fully paid for.
Examples
- The bank had to repossess the car after the borrower missed several payments.
- After not receiving payments for months, the landlord decided to repossess the rental property.
- The company can repossess the equipment if the lease is not honored.
Meaning
Repossess refers to the action of a lender or company reclaiming an item or property due to a failure to meet the payment terms agreed upon.
Synonyms
- retake
- reclaim
- retrieve
- regain
