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After-Acquired Property
Property not owned by a debtor at the time of a security agreement but acquired later and subsequently becomes subject to the security interest.
Security Interest
A security interest is a legal right granted by a debtor to a creditor over the debtor's property, ensuring the property may be used as collateral for the repayment of a debt.
Consumer Good
A consumer good is a product intended for final consumption by individuals or households as opposed to being used in the production of other goods or services.
Security Interest
A legal claim or lien on collateral that has been pledged, usually to secure repayment of a loan or debt.
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