repossessing
Seizing unpaid collateral
Repossessing is taking back property when someone fails to meet payment obligations.
A bank repossesses a car when the buyer defaults on the loan; a landlord repossesses a rental unit.
The word implies legal right to reclaim what was conditionally given: They're repossessing the house next week.
Seize by authority
- towPull something behind
- auctionCompetitive public sale
- liquidateConvert assets to currency
- seizeTake suddenly, forcibly
reclaim · recover · retrieve · skip · locate · disable · keys · inspection
Legal proceeding overseer
- sheriffCounty's chief officer
- marshalArrange in proper order
- creditorOne owed money
- lenderOne who loans money
bank · locksmith · servicer · auctioneer · lienholder
Preset standard option
- delinquencyCriminal or neglectful behavior
- arrearsOverdue financial obligations
- overduePast expected arrival
- loanBorrowed money repaid later
mortgage · nonpayment · borrower · debtor · collateral · deficiency · collection · dunning
Lender seizes mortgaged property
- seizureForcible taking or convulsion
- evictionForced departure from rental
- lienClaim securing debt
- distraintSeizing property for payment
garnishment · replevin · attachment · levy · writ · judgment · statutory · enforcement
Means of transport
- automobileSelf-propelled passenger conveyance
- carWheeled motor vehicle
- boatWatercraft for travel
- aircraftAirborne transportation vehicle
equipment · furniture · appliance · collateral · inventory · machinery · motorcycle · RV
impound
Seize by authority
seize · reclaim · recover · retrieve · skip · locate · disable · keys · inspection · storage
bailiff
Legal proceeding overseer
lender · bank · locksmith · servicer · auctioneer · lienholder
default
Preset standard option
- delinquencyCriminal or neglectful behavior
- arrearsOverdue financial obligations
- overduePast expected arrival
loan · mortgage · nonpayment · borrower · debtor · collateral · deficiency · collection · dunning · refinance
foreclosure
Lender seizes mortgaged property
distraint · garnishment · replevin · attachment · levy · writ · judgment · statutory · enforcement · injunction
vehicle
Means of transport
- automobileSelf-propelled passenger conveyance
- carWheeled motor vehicle
- boatWatercraft for travel
aircraft · equipment · furniture · appliance · collateral · inventory · machinery · motorcycle · RV · tractor
repossessinggranting
Giving formally or officially
giving · bestowing · awarding · conveying · transferring
repossessingsurrendering
Ceasing to resist
relinquishing · giving back · yielding · handing over · forfeiting
- repossession agentRecovers defaulted collateral