What are the types of items that can be secured by a security interest?

In California, a security interest is an interest in personal property to secure payment or performance of an obligation. When a security interest is created, the debtor grants the secured party a lien on the property in order to secure the payment of the obligation. There are numerous types of items that can be secured by a security interest in California, such as: 1. Accounts: These are debts owed to the debtor by another party, such as customer accounts receivable. 2. Documents: This includes documents of title, such as title to a vehicle or a deed to a piece of real estate. 3. Chattel paper: This includes any documents that evidence both a monetary obligation and a security interest in specific goods, such as a promissory note. 4. Inventory: This includes raw materials, work-in-process, and finished goods. 5. Equipment: This includes furniture, vehicles, tools, and other tangible assets that are used in the business. 6. Fixtures: This includes any items that are attached to real estate, such as a security system, gas fixtures, and air conditioning units. 7. General intangibles: This includes intellectual property, such as patents, trademarks, and copyrights. By understanding the different types of items that can be secured by a security interest in California, individuals or businesses can make well-informed decisions when it comes to protecting their financial interests. Security interests are an important tool to help protect debtors, and they should be used when necessary.

What are the types of items that can be secured by a security interest?

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