What does repossession mean?
The act of taking possession of something again, especially a vehicle, from someone who has failed to make payments on it. The return of property to its rightful owner, especially after it has been seized or taken away.
Example
"The repossession of the car was a result of the owner's failure to make payments on the loan."
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.