- security interest
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security interest see interest 1
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- security interest
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n.An interest in real or personal property that exists because the property has been offered as security for an obligation or debt.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
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A claim against property that secures a debt.Category: Bankruptcy, Foreclosure & Debt
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
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USAAn interest in certain assets which secures payment or performance of an obligation. In a secured financing transaction, the borrower grants a security interest over its assets in favor of the lender to secure its payment and performance obligations to the lender.For further information, see Practice Note, Security: Overview (www.practicallaw.com/8-381-0550).Related terms
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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n. An interest in property created by the operation of law or by agreement to repay a loan; a lien on personal property created by an agreement.@ purchase-money security interestInterest taken by the collateral's seller, such as an automobile. It is a purchase-money security interest, created by a bank, allowing one to pay off the cost of a car on an installment basis while enjoying its use. The bank retains the title until the full amount (along with interest) has been paid.@
Webster's New World Law Dictionary. Susan Ellis Wild. 2000.
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n.generic term for the property rights of a lender or creditor whose right to collect a debt is secured by property.
Law dictionary. EdwART. 2013.