Examlex
Multiply and simplify.
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Personal Property
Any form of property that is movable and not fixed permanently to one location, as opposed to real property or real estate.
Debtor's Possession
Refers to a situation in bankruptcy proceedings where the debtor retains possession and control of its assets while undergoing reorganization.
Security Interest
A legal claim or lien on collateral that has been offered to secure a loan, which grants the lender a right to repossession if the borrower defaults.
Perfection
In finance and law, the process of securing a claim or interest in an asset, typically making it enforceable against third parties.
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