v. t. 1. To possess again; as, to repossess the land. Pope. [ 1913 Webster ]

2. Specifically: To take possession of, for failure of the possessor to make payments owed for purchase of; -- used of real estate subject to mortgage payments and of other objects purchased on a time-payment plan, which may be taken back (repossessed) by the original vendor if the payments are not made on time. [ PJC ]

To repossess one's self of (something), to acquire again (something lost). [ 1913 Webster ]

n. The act or the state of possessing again. [ 1913 Webster ]