Generally, a security interest is an interest in real or personal property that is given to the seller to secure the payment of an obligation owed by the purchaser. The holder of the security interest can obtain the secured property in the event of a default.
In regards to lending, a security interest is an interest in property that is granted to a creditor. This is normally used to obtain a loan that the creditor would not be willing to give without some sort of security. A security interest may also be created by an operation of law to ensure the performance of the obligation where a debtor has defaulted on a debt.
"Security Interest" is referred to in the following legal documents:
