Etymology
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repossession (n.)

"renewed possession, act or state of possessing again," 1580s; see re- "back, again" + possession. By 1938 in reference to recovery of goods bought on plan by one who then defaulted on payments.

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Definitions of repossession

repossession (n.)
the action of regaining possession (especially the seizure of collateral securing a loan that is in default);
From wordnet.princeton.edu