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He can not act if they did not originally get the original ownership and remain in favor of the borrower and even if it was in the case of a mortgage foreclosure case while decoding for the original, but it remains in production
An asset that is transferred to a lender for the purpose of securing debt. The lender of the debt maintains possession of the pledged asset, but does not have ownership unless default occurs.
Even though the possession is with the lender, unless a default occurs the ownership does not pass on. Hence the goods cannot be sold by the lender till a default occurs.
1- Can get long term loans
2- Loan term loans normally provided on low interest rates
3- Higher amounts are sanctioned
Secured loans provide better interest rates compared to unsecured loans.
