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Meaning of “repossess” in the English Dictionary

(Definition of repossess from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"repossess" in Business English

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repossessverb [T]

uk   us   /ˌriːpəˈzes/ (also informal repo) FINANCE, PROPERTY
to take something back from a person who is buying it over a period of time because they cannot continue to pay for it: The lender may repossess the property to recoup the loan.have sth repossessed In the last credit crisis over five thousand families had their homes repossessed.
(Definition of repossess from the Cambridge Business English Dictionary © Cambridge University Press)
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