Home > Glossary

Collateral Agreement

Collateral Agreement

Definition

A transfer of all or some of the rights of the owner of personal property (including a life insurance policy) to another party (the assignee) as security for the repayment of an indebtedness. Once the debt is repaid, the assigned property rights usually revert back to the assignor (the original property owner).
Register for CRC
Register for AgriCon Des Moines
Prelicense.com

Navigation

Social Media

User ID: Subscriber Status:Free