This is property or assets that are pledged as security for a loan or other obligation. In the context of real estate, collateral might include things like a mortgage or a lien on a property. If the borrower fails to fulfill their obligations under the loan or other agreement, the lender has the right to seize the collateral in order to recover the outstanding debt.
What does collateral mean?
Related terms
Equivalent Level Rate (Elr)
Baseboard Electric Heat
Individual Retirement Account
Deposit
The 72-Hour Clause
Estimated Total Costs Of Renting
Property Tax
Probate Sale
Loft
Blue Sky Laws
Latent Defect
Field Changes
Cash Reserves
Upzoning
Historic Preservation
Agent
Credit History
Variable Interest Rate
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