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reparation (Noun) A payment of time, effort or money to undo past transgression(s). reparation (Noun) The act of renewing, restoring, etc., or the state of being renewed or repaired; as, the reparation of a bridge or of a highway. Origin: From reparationem, from reparatio.
Repossession is a term used to describe when an actual owner takes back from the borrower an object that was rented or leased, or was borrowed, either with or without compensation, or when a lienholder takes possession of an item from its registered owner that was used as collateral for a loan. Repossession, colloquially known as repo for short, is a self-help type of action in which the party having right of ownership of the property in question takes the property back from the party having right of possession without invoking court proceedings.