repossession Meaning in the Cambridge English Dictionary
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Meaning of “repossession” in the English Dictionary

"repossession" in British English

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repossessionnoun [C or U]

uk   us   /ˌriː.pəˈzeʃ.ən/
the ​act of taking something back, or the thing that is taken back: house/​mortgage repossessions
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(Definition of repossession from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"repossession" in Business English

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repossessionnoun

uk   us   /ˌriːpəˈzeʃən/ (also informal repo) FINANCE, PROPERTY
[C or U] the ​act of repossessing something: The ​mortgagemarket has seen a ​markedincrease in repossessions. Housepricesfell 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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