Repossessed
/ˌriːpəˈzɛst/
Definitions
- (adj.) Having been taken back possession of by the lender or seller, typically due to default on payment obligations.
The repossessed car was auctioned to recover the outstanding loan balance.
- (v.) Past tense and past participle of repossess, meaning to take back property due to nonpayment or breach of contract.
The bank repossessed the property after the borrower failed to make payments.
Forms
- repossess
- repossessing
Related terms
See also
Commentary
Repossessed is primarily used as an adjective describing property taken back and as the past participle of the verb repossess; understanding the base verb clarifies its use.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.