purchase money security interest
- It's the interest in security that a seller has when selling collateral, meant to ensure that the entire price or a portion of it is paid
- In the sale of a vehicle, the dealer may retain a purchase money security interest until full payment is received.
- To protect their investment, the business obtained a purchase money security interest on the commercial equipment they sold.
- Our client maintains a purchase money security interest on the property until the installment payments are complete.
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