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

In North Carolina, there are several types of items that can be secured by a security interest. Generally, these items are called collateral. Collateral is property, such as real estate, vehicles, and inventory, that can be used to secure a loan. In this case, the creditor will have a lien on the collateral, allowing them to collect it if the debt is not paid. In addition to real estate, vehicles, and inventory, other types of items that can be secured by a security interest include money, negotiable instruments, documents, and any other tangible or intangible property. Money is a type of collateral that is often used to secure loans. Negotiable instruments are items such as promissory notes, checks, and drafts. Lastly, documents is a broad term that can include things such as titles, deeds, certificates, and stocks. When securing a loan, it is important to understand the different types of items that can be used as collateral. Each borrower should be aware of the types of items that they can use to secure their loan, as well as the importance of making timely payments. A security interest can help to protect both the lender and borrower in the case of a debt not being paid.

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

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