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Security Interest
A legal claim or right granted in an asset as collateral to ensure the fulfilment of an obligation, typically repayment of a loan.
Legal Remedy
The means through which a court of law enforces a right, imposes a penalty, or makes another court order to impose its will.
Purchase-Money Security Interest
A legal claim that allows a creditor priority in reclamation over the bought property if the debtor defaults on a loan used to purchase the property.
Security Interest
A legal claim or right granted on an asset as a security for the performance of an obligation, such as the repayment of a loan.
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