The property in which a security interest is taken is called collateral.

Name: The property in which a security interest is taken is called collateral.
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This statement is true. Collateral is the asset or property that is pledged as security for a loan or other obligation. When a security interest is taken, it means that the creditor or lender has a legal claim to the collateral in the event that the borrower defaults on the loan or obligation.

The Property in Which a Security Interest Is Taken Is