google bot detected Security Interest | Real Estate Glossary |

Security Interest

Definition of "Security interest"

Lacrisha  Wilder
  Pacific Sotheby's International Realty

Creditor's control over property. When a loan is secured with pledged assets, the creditor has the right to go to court to obtain possession of the property if the borrower defaults. The creditor can usually sell the property, apply the amount received to the balance owed, and sue for any still remaining unpaid balance. State laws differ as to creditor's rights and obligations.

Related Real Estate Glossary terms

Related Real Estate FAQ