Repossession refers to a right granted to a secured creditor to take possession of the collateral upon default by the debtor.

Name: Repossession refers to a right granted to a secured creditor to take possession of the collateral upon default by the debtor.
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Repossession is a legal right granted to a secured creditor to take possession of the collateral if the debtor defaults on their payments or obligations.

Repossession Refers to a Right Granted to a Secured Creditor