Secured Transactions
/ˈsɪkjʊrd trænsˈækʃənz/
Definitions
- (n.) Legal arrangements whereby a debtor grants a creditor an interest in personal property as security for a debt or obligation.
The lender perfected its rights by filing a financing statement in the secured transactions registry.
Forms
- secured transaction
Related terms
See also
Commentary
Secured transactions primarily arise under Article 9 of the Uniform Commercial Code in the U.S., governing personal property security interests to ensure creditor priority.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.