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Meaning of “repossession” in the English Dictionary

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

"repossession" in Business English

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repossessionnoun

uk   /ˌriːpəˈzeʃən/ us   also informal repo FINANCE, PROPERTY
[C or U] the act of repossessing something: The mortgage market has seen a marked increase in repossessions. House prices fell and thousands were left facing repossession. Many banks are accused of being harsh in their repossession policies.
[C] a house that has been taken back by a bank because the owners cannot repay the loan that they took to buy it: When the house was sold as a repossession, it fetched just £45,000.
(Definition of repossession from the Cambridge Business English Dictionary © Cambridge University Press)
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“repossession” in Business English

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