Security Interest

A security interest is a property interest created by agreement or by operation of law over assets to secure the performance of an obligation, usually the payment of a debt. It gives the beneficiary of the security interest certain preferential rights in the disposition of secured assets. Such rights vary according to the type of security interest, but in most cases, a holder of the security interest is entitled to seize, and usually sell, the property to discharge the debt that the security interest secures.

Read more about Security InterestRationale, Security, Types, Security Interest Vs. General Obligation, Perfection, "Quasi-security", United States (the Uniform Commercial Code), Civil Law Countries, See Also

Other articles related to "security interest, security, interest":

Secured Transactions In The United States - Attachment & Perfection
... A security interest becomes enforceable against the collateral as soon as it attaches ... rights (ii) that value is given and (iii) in most cases, that the debtor has authenticated a security agreement that adequately describes the collateral ... relating to consumer goods and commercial tort claims, a security interest can encumber after-acquire property -- that is, it can attach to property the debtor acquires after ...
Security Agreement
... A security agreement, in the law of the United States, is a contract that governs the relationship between the parties to a kind of financial transaction known as a secured transaction ... guarantor or surety) assigns, grants and pledges to the grantee (typically the lender) a security interest in personal property which is referred to as the collateral ... A security agreement is not used to transfer any interest in real property (land/real estate), only personal property ...
Secured Loan - United States Law of Debt Secured By Property - How To Create Secured Debt
... be secured by either a Purchase Money Security Interest (PMSI) loan, where the creditor takes a security interest in the items purchased (i.e ... electronics) or, a Non-Purchase Money Security Interest (NPMSI) loan, where the creditor takes a security interest in items that the debtor already owns ...

Famous quotes containing the words interest and/or security:

    The interest in Wisdom is fading. Soon there will not be enough left to support the aphorism, even though it tries to amuse by half-mocking the Wisdom it propounds.
    Mason Cooley (b. 1927)

    A well-regulated militia being necessary to the security of a free State, the right of the people to keep and bear arms shall not be infringed.
    U.S. Constitution, Second Amendment.