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Simple English definitions for legal terms

Repossession

Read a random definition: ad punctum temporis

A quick definition of Repossession:

Repossession: When you borrow money from someone and use something you own as a promise to pay them back, they can take that thing away if you don't pay them back. This is called repossession. It's like when your friend borrows your toy and you ask for it back because they didn't give it back when they said they would. But, the person taking your thing back has to do it nicely and not be mean or hurtful. If they are mean or hurtful, that's not okay and they did something wrong.

A more thorough explanation:

Repossession is when a creditor takes back property that a debtor used as collateral for a loan because the debtor has not paid back the loan. This is usually done by a creditor or an agent hired by the creditor. However, repossession must be done without any breach of peace. If the creditor or agent violates a legal duty to the debtor during repossession, it is considered wrongful repossession.

  • If a person takes out a car loan and uses the car as collateral, but fails to make payments, the creditor may repossess the car.
  • If a person takes out a mortgage on a house and fails to make payments, the bank may foreclose on the house and repossess it.
  • If a creditor repossesses a debtor's property without following the proper legal procedures, such as not giving proper notice or not following state laws, it is considered wrongful repossession.

These examples illustrate how repossession works and when it is considered wrongful. It is important for both creditors and debtors to understand their rights and responsibilities when it comes to repossession.

Repossess | Represent

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Thank you! But lowkey my page a lil fake. Withdrew from UChi after missing the II and the fact my future wife wants to leave the midwest anyways (i cant lie its mainly the first reason tho)
13:16
UChi didn’t inv u but you hit cls w half
13:16
That’s crazy haha
Honestly no clue. I missed NU waves too. Quite frankly, I think my why chicago statements were very meh
My PS and DS were sort of emotion but ended on a happy note. My why chi’s also did a little emotional stuff and I think it might’ve hurt me a bit. No clue tho🤷🏽‍♂️
Trismegistus
13:17
im pubbed in a bar association does that not mean anything wtfffff :(
13:18
@ImpartialLion: water under the bridge for you now tbh 🔥
13:18
Wonder what HLS is doing w our apps tho
texaslawhopefully
13:18
at least you're wondering lol
texaslawhopefully
13:18
I had the II and then got R'd
lilypadfrog
13:19
guys am I part of this conversation i also have a good lsat and no acceptances. I want to feel included
Trismegistus
13:19
my own alma mater straight up ignoring me too
13:19
@lilypadfrog: ur not a kjd without work experience. Back off
I think I’m headed for the HLS WL. I heard that if you get off the WL, you put down your deposit before you hear your offer? Idk how i feel ab that
13:19
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Every thursday, i still pretend like I have a chance at a II tho
13:20
Yeh my friend got it 5/15 last year… crazy late
13:20
Same same maybe tomorrow 😭
lilypadfrog
13:20
@sadpadresfan: :(
texaslawhopefully
13:21
that's a good thing 😭
texaslawhopefully
13:21
you have actual work experience
Trismegistus
13:21
i was on HLS WL and waited all summer :(
atwatodbit
13:21
i cannot imagine taking HLS at sticker with a good scholly elsewhere. i am trying to just pretend they dont exist tbh
Trismegistus
13:21
got a II and everything
If I didnt get into UVA in November my mental health would be decimated
13:22
@Trismegistus: can I ask where u attend now?
Now that the debt is real, even half is so damn expensive. I’m hopin to get a few extra grand from CLS in reconsiderations
Trismegistus
13:22
nowhere, i only applied there
choosingpeace
13:22
wait does penn release Rs and As on the same day
choosingpeace
13:22
why r ppl saying penn bloodbath today...
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