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