What is repossession?

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What is the exact meaning of repossession? And from what point repossession starts?

-- Jung-Jin Lee (jjlee98@hotmail.com), December 12, 2000


The taking back of property by a lender or seller from the borrower or buyer, usually due to default. When it starts seems to be upto the leder as to whe they want it to start.

-- Matt (mattyc@ntlworld.com), December 13, 2000.

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