Keywords

#security_interest

Security interest

Legal right between a debtor and creditor over the debtor's property (collateral)

In finance, a security interest is a legal right granted by a debtor to a creditor over the debtor's property which enables the creditor to have recourse to the property if the debtor defaults in making payment or otherwise performing the secured obligations. One of the most common examples of a security interest is a mortgage: a person borrows money from the bank to buy a house, and they grant a mortgage over the house so that if they default in repaying the loan, the bank can sell the house and apply the proceeds to the outstanding loan.

Sat 4th

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Security interest Central Registry of Securitisation Asset Reconstruction and Security Interest Lien Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Secured transaction Interest Mortgage-backed security Mortgage Perfection (law) Security agreement
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