What Is A Secured Transaction?

Secured transactions are transactions in which the debtor gives the creditor a special right, or lien, on the debtor's property in order to assure payment of the debt. The property may be real property or personal property. The creditor is then a secured creditor as opposed to an unsecured creditor.

The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.

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