Repossession Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Repossession, written in plain English, along with examples of how it is used.

What is Repossession?

(n) Re possession is taking back the possession of a property or articles transferred to another person, by canceling the contract and agreement by which such transfer was made. For example when the buyer failed to pay the price in time seller took back the goods sold