Purchase money security interest

-5 -4 -3 -2 -1 0 1 2 3 4 5

Average score: 0 (total votes: 0)

1. A security interest taken by a secured party in assets acquired by a debtor where either the secured party sold the asset to the debtor on credit and retained a security interest in the asset sold as security to repay the loan or where the secured party made a loan to enable the debtor to acquire the asset and took a security interest in the asset as security for the enabling loan.

---