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.

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

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