An interest in property, other than real estate, which is given as security for a debt or other obligation A security interest is created by execution of a security agreement and one or more financing statements under the Uniform Commercial Code
An interest in personal property or fixtures which secures payment or performance of an obligation
An interest in property that is acquired for purpose of securing payment of a lease obligation A security interest allows the holder of the security interest to obtain the property in the event of default and gives the holder additional rights in the event of bankruptcy
An interest that a lender takes in the borrower's property to assure repayment of a debt See Mortgage and Deed of Trust above
A term designating the interest of the creditor in the property of the debtor in all types of credit transactions It thus replaces such terms as the following, chattel mortgage; pledge; trust receipt; chattel trust; equipment trust; conditional sale; inventory lien; etc
If stated in your lease agreement, a lessor's legal right to your property (such as stocks or bonds) that secures payment of your obligation under the lease agreement
Legal term for the claim the lender has against the borrower's property which has been pledged under a loan
The creditor's right to take property or a portion of property offered as security
an interest in personal property created by a transaction that in substance secures payment or performance of an obligation Security interests also include a lease for a term of more than one year, a commercial consignment and a transfer of accounts receivable or chattel paper
An interest that a lender takes in the borrower's property to ensure repayment of a debt, i e a mortgage
"Security interest" is the type of interest a lender has in the property of the borrower The borrower's property is set aside so that the lender can sell it if the borrower defaults on the loan A mortgage and deed of trust are security instruments
The right of the lender to recover the property leased or financed in case the borrower defaults or goes bankrupt The property cannot be seized and sold to settle the borrower's debts, but must be returned to the lender This "security interest" must be stated in the loan documents and perfected by filing a UCC-1 financing statement
Any interest in property acquired by contract for the purpose of securing payment or performance of an obligation
A Security Interest is a secured by either a security clause in a contract, or by a lien on property If you have a Sears charge card, you are in a secured contract with the bank which issues the Sears charge If you have a title loan on your car, the creditor has a security interest in the car title until the bill is paid
A term designating the interest of the creditor in the property of the debtor in all types of credit transactions It, thus, replaces such terms as the following: chattel mortgage, pledge, trust receipt, chattel trust, equipment trust, conditional sale, inventory hen, etc
An interest that a lender takes in the borrower's property to assure repayment of a debt