LeoGlossary: Collateral Assignment

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Published: 20 Sept 2022 › Updated: 20 Sept 2022 LeoGlossary: Collateral Assignment

LeoGlossary: Collateral Assignment

Transferring ownership of an asset from the borrower to the lender until the loan gets fully paid. The transferred asset can be the borrower's life insurance. If the borrower is unable to pay, the lender can cash in the life insurance policy and recover what is owed.

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LeoGlossary: Collateral Assignment

LeoGlossary: Collateral Assignment

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