Secured debt is a creditor’s claim that is secured by a lien on the debtor’s property. This lien can be established either by the debtor’s agreement or involuntarily through a court judgment or tax obligation.
Some examples...
property & real estate law
secured transaction
A secured transaction is an arrangement in which a buyer or borrower (referred to as the debtor) guarantees payment of an obligation by granting a security interest in property to the seller or lender (referred to as the secured party)....
security
Security: An Overview
Security refers to a broad type of investments with risks that are regulated under securities law. Securities exist in numerous forms including: notes, stocks, treasury stocks, bonds, and certificates of interest or...
security interest
Security interest is interest in someone else's property, created by contract or by law. A mortgage is one type of security interest created by contract. A garnishment is one type of security interest created by law.
See...
seised
See: seized.
[Last updated in August of 2021 by the Wex Definitions Team]
seisin
A legal concept from early English property law that continues to influence certain concepts in the modern law of real property and is thus helpful and, at times, essential to understanding this area of the law. In brief, the term refers to...
seized
In a legal context, seized may be used to refer to a situation in which the government has taken forcible possession of the property, as in seized property. For instance, the US Department of Treasury makes auctions of seized property for...
seizin
See seisin.
[Last updated in April of 2021 by the Wex Definitions Team]
self-proving will
Self-proving will is a regular will that fulfills certain requirements that allow the will to be validated without going through probate court. In all states but the District of Columbia, Maryland, Ohio, and Vermont, a person can create a...
separate property
Separate property is property that is owned by one spouse and not the other. There are two categories of marital property; community property, and separate property. Community property is when spouses share all property equally. However, even...