repossess
/ˌriːpəˈzɛs/
verb
- To take back property (such as a car or house) from someone who has failed to make payments on a loan.
- The company repossessed the equipment when the lease was not renewed.
- The bank repossessed their car after they missed six payments.
- If you don't pay the mortgage, the lender may repossess your home.
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