Security Agreement Terminology
A guarantee contract is not used to transfer shares of real estate (land / real estate) but only in personal property. The document used by lenders to obtain a right of pledge on real estate is a mortgage or trust deed. A security agreement describes the particularities of assets or real estate that operate as collateral. It can be real estate, production equipment or anything else that the lender deems sufficient. As mentioned above, the lender can close the collateral and take it into account if the debtor is in arrears in its repayment, and then liquidate the asset/property. «Security Agreement.» Merriam-Webster.com Legal Dictionary, Webster merriam, www.merriam-webster.com/legal/security%20agreement. Retrieved December 2, 2020.