Security Agreement
CO.CD.03.15
This Security Agreement is used where one party owes an unsecured debt to a creditor and the creditor wishes to secure that debt against property of the debtor. It may be particularly useful where the debtor wishes to prevent the immediate collection of the debt.
What does Security Agreement do?
It documents the grant of security over specified property to support repayment of an unsecured debt.
What does Security Agreement cover?
It includes provisions dealing with:
- Where the secured property will be kept
- The debtor’s obligation to ensure the secured property is insured
- The creditor’s right to inspect the secured property
- Breach and termination
Other statutory note
The execution provisions of this template are compliant and consistent with the requirements of the Land Registry for prescribed form deeds introduced from 20 September 2019.
Security Agreement is part of Corporate. Just £38.50 + VAT provides unlimited downloads from Corporate for 1 year.