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.
"You can hawk any property in monopoly for half what you paid for it"
"I need 50$ to get boardwalk out of hawk"
"I hawked my wedding ring to the pawn shop for 200$"
Prices shown in USD.
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