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Interpretation
REPOSSESSIONS - Repossessions are legal processes by which the lender forces a sale of a property as the borrower fails to meet the mortgage terms. As a rule, a lender cannot take possession of the goods unless the borrower is in default. One should be aware of the following thing before repossessions: the lender must serve a pre-possession notice on the borrower and every guarantor, unless there are sensible grounds to think the goods have been removed or damaged.
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