repossess

Meanings

• verb

  To take back possession of something, typically a property, that has been pledged as security for a loan and has been seized because the borrower has defaulted on payments.

  - "The bank will repossess the car if you don't make your payments on time."
  - "After several missed mortgage payments, the house was repossessed by the bank."

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Rhymes

Words rhyming with repossess
possess , caress , dress , impress , access

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Variants

List of all variants of repossess that leads to same result
repossess , repossessed , repossesses , repossessing , repossession , repossessions , repossessor , repossessors

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Etymology

origin and the way in which meanings have changed throughout history.

From Old French 'repossesser' meaning 'to retake possession'.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. Repossession is a common reason for bankruptcy filings in the United States.

2. In some cases, borrowers may be able to prevent repossession by negotiating a repayment plan with their lender.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. foreclosure: A legal process in which a lender sells or seizes property to recover the debt of a defaulting borrower. Repossession is a common outcome of a foreclosure process.

2. secured debt: A type of loan that is secured by collateral, which can be seized and sold to recover the debt if the borrower defaults. Examples include mortgages and car loans.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Repossession is a common legal process in the context of loan defaults, particularly for secured debts such as mortgages and car loans. The process can be emotionally and financially distressing for the debtor, and there are various laws and regulations governing the process to protect borrowers' rights.

How to Memorize "repossess"

1. visualize
   

   - Imagine a borrower who has fallen behind on their loan payments. Visualize the bank taking possession of the property, such as a car or a house, to recover the debt.

2. associate
   

   - Associate the word 'repossess' with the idea of taking back possession of something, such as a property, that has been pledged as security for a loan.

3. mnemonics
   

   - Create a mnemonic by remembering the phrase 'retake possession easily' to help remember the meaning of 'repossess'.

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Memorize "repossess" using Dictozo

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