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WordNet-Online
Definitions from WordNet | ||||
Definitions from the WebSecurity InterestDefinition:A security interest refers to a legal claim or right taken by a creditor over a debtor's property to secure repayment of a debt or obligation. Usage:Sense 1:Noun - General When a borrower takes a loan from a bank, the bank often requires a security interest in the borrower's property as collateral. Example Sentence: The lender extended a security interest over the borrower's house to ensure they would repay the mortgage. Sense 2:Noun - UCC (Uniform Commercial Code) Under the Uniform Commercial Code, a security interest is a legal claim by a creditor against a debtor's personal property to secure a loan. Example Sentence: The inventory of the business was used as collateral under the security interest taken by the lender. Sense 3:Noun - Intellectual Property In the context of intellectual property, a security interest may be granted over patents, trademarks, or copyrights to secure financing. Example Sentence: The software company allowed a security interest in their patents in order to secure an investment for research and development. Sense 4:Noun - Local In local law jurisdictions, a security interest may refer to a specific type of lien or claim on personal or real property. Example Sentence: According to local law regulations, the mechanic had a security interest in the car until the repairs were fully paid. Sense 5:Noun - Financial Financial institutions often take a security interest in the assets of a company to secure a loan or line of credit. Example Sentence: The bank demanded a security interest in the company's accounts receivable as collateral for the business loan. Sense 6:Noun - Internet A security interest in the digital realm refers to safeguards, mechanisms, or protocols used to protect sensitive information or prevent unauthorized access. Example Sentence: It is crucial for online businesses to implement robust security interest measures to safeguard customer data from potential cyber threats. Sense 7:Noun - Legal From a legal perspective, a security interest grants a creditor certain rights and priority over the debtor's property in the event of default. Example Sentence: If the borrower defaults on the loan, the creditor with a security interest can seize and sell the collateral to satisfy the debt. Sense 8:Noun - Real Estate In real estate, a security interest can be a mortgage, deed of trust, or lien on a property to secure a loan. Example Sentence: The buyer granted a security interest on the house to the lender as part of the mortgage agreement. Related Products: | ||||
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