The debtor usually retains possession of the goods used to secure a debt while the creditor has the right to seize them for default.

Name: The debtor usually retains possession of the goods used to secure a debt while the creditor has the right to seize them for default.
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In many secured transactions, the debtor retains possession of the collateral (goods used to secure a debt) while the creditor obtains a security interest in the collateral, giving them the right to seize it upon default.

The Debtor Usually Retains Possession of the Goods Used to Secure