Repossession Order
/ˌriːpəˈzɛʃən ˈɔːrdər/
Definitions
- (n.) A court order authorizing a creditor to take possession of goods or property from a debtor due to default on a secured obligation.
The lender obtained a repossession order to recover the leased vehicle after missed payments.
Forms
- repossession orders
Related terms
See also
Commentary
Typically issued after a creditor demonstrates debtor's default, repossession orders must comply with strict procedural safeguards to protect debtor rights.
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.