Definitions for "Repossess"
To possess again; as, to repossess the land.
To take possession of, for failure of the possessor to make payments owed for purchase of; -- used of real estate subject to mortgage payments and of other objects purchased on a time-payment plan, which may be taken back (repossessed) by the original vendor if the payments are not made on time.
When a lender takes possession of an automobile due to failure to pay or for defaulting on the loan.
A right reserved by the seller in the supply contract or terms and conditions of business whereby the seller can (peacefully) enter premises and reclaim goods under certain stated circumstances.
Forced or voluntary surrender of merchandise as a result of a consumer's failure to repay a loan as promised.
Keywords:  claim, back