Refinance and Mortgage Encyclopedia - security instrument (Free Refinance Quote in 30 seconds)

Refinance and Mortgage Encyclopedia - security instrument

Security Instrument

A documentAny written instrument meeting all statutory requirements which may be recorded with the Register of Deeds. under which collateralSomething pledged as security for a debt. is pledged (e.g. mortgageIncludes all forms of debt for which real property, that is, land and/or buildings, is given as security.)

Security instrument

The written instrumentAny writing having legal form and significance, such as a deed, mortgage, will, lease, etc. that legally records the AgencyThe Rural Housing Service or its successor agency within the Rural Development mission area of the U.S.'s security interestThe creditor's right to take property or a portion of property offered as security. in the propertyThe rights or interests a person has in the thing he owns; not, in the technical sense, the thing itself..