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LSDefine

Simple English definitions for legal terms

collateralize

Read a random definition: qualified ownership

A quick definition of collateralize:

Collateralize means to use something valuable, like a house or car, as a guarantee that you will pay back a loan. For example, if you want to borrow money to buy a house, the bank might ask you to collateralize the loan by using the house as security. This means that if you don't pay back the loan, the bank can take your house to get their money back. Collateralization helps lenders feel more confident about lending money, because they have something valuable to fall back on if you can't pay them back.

A more thorough explanation:

Definition: To use something as collateral to secure a loan or debt.

Example 1: The car was collateralized to secure the loan for the new business.

Example 2: The bank required the borrower to collateralize the loan with their house.

Explanation: Collateralizing means using something valuable, like a car or a house, to secure a loan. This means that if the borrower cannot pay back the loan, the lender can take possession of the collateral to recover their losses. In example 1, the car is used as collateral to secure the loan for the new business. In example 2, the bank requires the borrower to use their house as collateral to ensure that they will be able to recover their losses if the borrower cannot pay back the loan.

collateral issue | collateral limitation

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[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
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