obligations, the secured creditor may not only sue the debtor for contractual damages or recovery of debt, but may also enforce their proprietary rights over the assets (e.g. by seizure and sale) and obtain priority over unsecured and subordinate creditors in the event of insolvency.

The most common security interest is the mortgage, which often involves a creditor bank securing an interest in a debtor homeowner's land for the payment of a loan used to finance the purchase of the home. Although most security