repossession

verb (used with object)

1. to possess again; regain possession of, especially for nonpayment of money due.
2. to put again in possession of something: to repossess the Bourbons of their throne.

verb (tr)

1. to take back possession of (property), esp for nonpayment of money due under a hire-purchase agreement
2. to restore ownership of (something) to someone

n.

1580s, from re- + possession.

v.

late 15c., “to reoccupy;” see re- “back, again” + possess. Meaning “take back from a purchaser who defaults on payments” first recorded 1933. Related: Repossessed; repossessing.