When a repossession occurs a vehicle owner fails to make loan payments, and the financial institution holding the title takes possession of the vehicle
The taking of property by a finance provider where the borrower has not fulfilled their obligations eg: non-payment •Consumer Credit
Usually occurs after a borrower seriously defaults on payments The lender then legally evicts the borrower and usually auctions the property to recover losses
-When a creditor takes back property from a consumer who has not fulfilled the terms of his or her contract
The repossession of someone's house is the act of repossessing it. the problem of home repossessions
Legal process by which the lender forces the sale of a property because the borrower has not met the mortgage terms
The situation where a lender takes physical possession of a vehicle due to default
A right, under contract, to take back property when the debt to pay for the property has not been paid
When a house is repossessed, it is taken back by the lender holding the mortgage
The removal of rights to use by a Club (or Management Company) for breach of the Constitution (usually non-payment of Management Fees) and the sale of those rights to recover any debt Deeded property cannot normally be repossessed
Title of donated property will revert to and vest in the U S Government and the item will be returned to a U S Government approved site
If you do not make payments on your secured loan, your lender can take the property that you pledged as collateral and sell it The process of taking your property and selling it is called repossession
{i} act of regaining possession, act of regaining ownership; act of returning something to its owner
The process of taking back equipment that is pledged as security to the lessor, due to non-payment or other contractual breech by the lessee
When the borrower defaults on the loan, the lender takes over ownership of the house and sells the house for whatever they can get to repay the debt
The taking of an asset that has been pledged as collateral for a loan when the borrower defaults 557
This is when a borrower fails to pay back their loan in accordance with the Terms and Conditions of that loan and the lender exercises their legal charge over the borrower's property by taking legal ownership
Forced, or voluntary surrender of merchandise as a result of the customer's failure to pay as promised There are several types and descriptions of repossession actions
You can refer to a house or car that has been repossessed as a repossession. Many of the cars you will see at auction are repossessions
When the mortgage lender takes away your home because you have fallen too far behind on your mortgage repayments
Taking possession of property that was earlier sold on an installment contract because the buyer defaults on payment of the debt
If your car or house is repossessed, the people who supplied it take it back because they are still owed money for it. His car was repossessed by the company. to take back cars, furniture, or property from people who had arranged to pay for them over a long time, but cannot now continue to pay for them bailiff, repo man repo man