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Secured Transactions

Secured Transactions

Generally a secured transaction is a tool available to a lender or a borrower to grant security in favor of the lender to make a load to a borrower. A secured transaction involves the existence of a debt and a lien against either real or personal property. Often the debt and the lien are created simultaneously such as when a vehicle is purchased under terms of credit or obtaining a mortgage to purchase a home. A secured transaction can also be created with property which is not being purchased, but may already be owned by the borrower. Generally a secured transaction is a tool available to a lender or a borrower to grant security in favor of the lender to make a loan to a borrower.

 

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