Repossession: meaning, definitions and examples

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repossession

 

[ ˌriːpəˈzɛʃ(ə)n ]

Noun
Context #1 | Noun

legal

The action or process of taking back possession of something, in particular when a buyer defaults on payments.

Synonyms

reacquisition, reclaiming, seizure.

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Word Description / Examples
repossession

Best used in legal and financial contexts when a lender takes back property due to defaulted payments.

  • The bank initiated the repossession of the house after several missed mortgage payments.
  • Car repossession rates have risen as the economy struggles.
reclaiming

Commonly used in general or environmental contexts to describe recovering something or taking back possession, often with a sense of effort or right.

  • She focused on reclaiming her health through regular exercise and a balanced diet.
  • The community worked hard in reclaiming the abandoned park.
seizure

Often used in legal or law enforcement contexts to describe the act of taking possession forcibly or by legal right, usually carries negative connotations.

  • The police executed a seizure of illegal drugs at the warehouse.
  • The seizure of assets by the government was part of the investigation.
reacquisition

Appropriate in formal contexts to describe the act of gaining possession or control again, often used in business or historical contexts.

  • The company celebrated the reacquisition of their previous headquarters.
  • The town’s reacquisition of the land was crucial for the public park project.

Examples of usage

  • The repossession of the car was necessary after the buyer failed to make payments on time.
  • The bank initiated repossession procedures after the borrower defaulted on the loan.
Context #2 | Noun

finance

The act of regaining possession of something, especially in the context of recovering assets from a borrower who has defaulted on a loan.

Synonyms

recapture, recovery, retaking.

Which Synonym Should You Choose?

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Word Description / Examples
repossession

This term is mainly used in financial and legal contexts when a lender takes back an item, typically property or a vehicle, due to non-payment by the borrower. It has a somewhat formal and potentially negative connotation.

  • The bank initiated the repossession of the car after the payments were missed.
  • He faced repossession of his house due to his inability to pay the mortgage.
recovery

This word is versatile and commonly used to describe regaining health, restoring a situation to a normal state, or getting back something that was lost or stolen. It has a positive connotation.

  • Her recovery from the illness took several weeks.
  • The company worked hard for the recovery of its lost data.
retaking

This term is almost exclusively used in contexts involving capturing something again, often through active and possibly aggressive means. It can apply to exam situations or military actions but usually suggests doing something over or regaining something through effort.

  • After failing the test, he was determined to succeed on the retaking.
  • The soldiers planned a strategy for the retaking of the fort.
recapture

This term is commonly used in military or strategic contexts when trying to get back something that was lost. It can also appear in contexts of re-experiencing something, like a feeling or moment, but mainly conveys a sense of struggle or effort to regain control.

  • The army aimed to recapture the territory from the invaders.
  • She tried to recapture the joy from her childhood vacations.

Examples of usage

  • The repossession of the house was a last resort for the bank to recover the unpaid debt.
  • The lender was forced to proceed with repossession due to the borrower's failure to meet the payment obligations.

Translations

Translations of the word "repossession" in other languages:

🇵🇹 reapossessão

🇮🇳 पुनः प्राप्ति

🇩🇪 Rücknahme

🇮🇩 penyitaan kembali

🇺🇦 повернення власності

🇵🇱 przejęcie

🇯🇵 差し押さえ

🇫🇷 reprise de possession

🇪🇸 recuperación

🇹🇷 yeniden sahiplenme

🇰🇷 재소유

🇸🇦 استرجاع

🇨🇿 znovuzískání

🇸🇰 opätovné získanie

🇨🇳 重新占有

🇸🇮 ponovno posedovanje

🇮🇸 endurheimt

🇰🇿 қалпына келтіру

🇬🇪 ხელახლა მფლობელობა

🇦🇿 yenidən sahiblik

🇲🇽 recuperación

Etymology

The term 'repossession' originated from the combination of the prefix 're-' meaning 'back' or 'again' and the word 'possession'. The concept of repossession has been prevalent in various legal and financial contexts, serving as a mechanism for reclaiming assets or properties in cases of default or non-payment. The practice of repossession has evolved over time to establish legal frameworks and procedures governing the process.

See also: dispossess, dispossessed, possess, possessed, possessing, possession, possessions, possessive, possessor, possessors, repossess, repossessing.

Word Frequency Rank

At rank #27,892, this word represents specialized academic or technical vocabulary. It's less frequently encountered but may be valuable in specific contexts.