Crossword clues for repossession
The Collaborative International Dictionary
Repossession \Re`pos*ses"sion\ (r?`p?z-z?sh"?n or -p?s s?sh"?n), n. The act or the state of possessing again.
Douglas Harper's Etymology Dictionary
1580s, from re- + possession.
Wiktionary
n. 1 (context uncountable English) The condition of being repossessed 2 (context countable English) The act of repossessing
WordNet
n. the action of regaining possession (especially the seizure of collateral securing a loan that is in default)
Wikipedia
Repossession is a term used to denote a financial institution taking back an object that was either used as collateral or rented or leased. Repossession is a " self-help" type of action in which the party having right of ownership of the property in question takes the property back from the party having right of possession without invoking court proceedings. The property may then be sold by either the financial institution or third party sellers. The extent to which repossession is authorized, and how it may be executed, greatly varies in different jurisdictions (see below).
When a lender cannot find the collateral, cannot peacefully obtain it through self-help repossession, or the jurisdiction does not allow self-help repossession, the alternative legal remedy to order the borrower to return the goods (prior to judgment) is replevin.
The security interest over the collateral is often known as a lien. The lender/creditor is known as the lienholder.
Usage examples of "repossession".
But my furious gorge, and empty paunch, so lusteth after a repossession of my famous town of Mansoul, that whatever comes out, I can wait no longer to see the events of lingering projects.
Bronze tablets bearing this oration for their inscription have been put on the walls of schoolhouses and public buildings all the way across the continent--plates in renewal of possession, that are another fruitage of the valley where the French planted their plates of possession and repossession a century before.
Perhaps repossessions and what they meant affected people more at this time of year.
He was also doing midnight car repossessions for small loan companies and some collection work for local merchants and a couple of Las Vegas casinos, making courtesy calls.