California Security Agreement

A California security agreement is a contract between a seller and buyer or lender and borrower. This gives the seller or lender security interest and the right to repossess property that a person or business has offered as collateral if the loan or promissory note is not paid.

A California Security Agreement is a legal agreement commonly used with a promissory note to secure collateral for a lender or another person involved with a business transaction.

Our California security agreement form covers the following topics:

• Type of collateral being secured
• Address where collateral will be kept
• Executing further documents
• Events that will constitute a default
• Assignment of secured collateral by holder
• A List of events that would constitute default by the debtor
• Rights of the holder should debtor default

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