Security interest
A legal right over an asset granted to secure payment or performance of an obligation.
Related terms
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Charge on property
A legal security interest registered against property, giving the creditor rights over the property if the secured obligation is not met.
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Security
An asset, charge, guarantee or other right given to support repayment of a debt and improve the creditor’s recovery position.
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Secured creditor
A creditor with enforceable security over an asset, giving it rights against that asset if the debt is not paid.
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