Sentences with phrase «ownership of the collateral»

If they should fail to make payments, the lender has the right to take ownership of the collateral.

The process is much quicker when the person does not have to certify ownership of collateral and verify its value.

If you're applying for a secured loan, you'll have to provide documents to prove ownership of the collateral in question.

They agree that the lender may gain legal ownership of that collateral if the borrower fails to repay the loan.

If the borrower fails to repay the loan as per the agreement, the lender may take ownership of the collateral and sell it to repay the loan.

If the borrower fails to repay the loan, the lender may take ownership of the collateral.

If the borrower is unable to repay the line, the lender will assume the ownership of any collateral and liquidate it to pay off the balance.

If the borrower is unable to repay the line, the lender will assume the ownership of any collateral and liquidate it to pay off the balance.

If the borrower violates the terms of the agreement, you can define what happens if they default such as transferring the ownership of collateral to you.