Repossession of property is the process by which a creditor recovers possession of the property when the debtor defaults on the debt by failing to make the required installment payments on time. Repossession is often used by a creditor who has extended credit to a debtor for the purchase of personal property, such as a motor vehicle, boat, machinery, equipment, tools, artwork, jewelry, or rent-to-own furniture or electronics.

The creditor’s right to repossess the property usually comes from the credit financing agreement the debtor signs when purchasing or renting-to-own the property.

Laws governing creditor and debtor rights and obligations—including the right to repossess property—vary from state to state and are usually located in a state’s statutes—often in the state’s adopted or enacted version of Article 9 of the Uniform Commercial Code, governing secured transactions.

In Georgia, repossession of property is governed by the state's statutes, which include provisions from Article 9 of the Uniform Commercial Code (UCC) regarding secured transactions. When a debtor defaults on a debt, such as failing to make timely installment payments for personal property like vehicles, boats, or rent-to-own items, the creditor has the right to repossess the property. This right is typically outlined in the credit financing agreement signed by the debtor. Georgia law allows for self-help repossession, meaning the creditor can repossess the property without a court order, provided the process is peaceful and does not breach the peace. However, if the repossession cannot be accomplished without a confrontation or entering a locked area, the creditor may need to obtain a court order. After repossession, the creditor must provide the debtor with a notice of their right to redeem the property and may be required to sell the property in a commercially reasonable manner. Debtors in Georgia have specific rights and may have defenses against repossession, so it is advisable for individuals facing repossession to consult with an attorney to understand their legal options and protections.