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A state where another party maintains possession of something, but does not have full ownership of it, and must gaurontee that it can be sold back to the original owner for a fixed amount. Usually when you offer something (jewelry, property, etc) up for collateral, it is in "hawk". Possessor can be a bank, a pawn shop, an impound lot, etc; but is usually limited to legal matters. You can get the item "out of hawk" by paying the money back, or filling the contract out.
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