Real Right of Pledge
type: Class
alternative label: Collateral Right
alternative label: Pledge Right
subclass of: R8cjnXHiv1wNe6nzPvWnhQw
definition: The Real Right of Pledge is a security interest that allows a creditor to hold a tangible asset or property as collateral to secure a debt or obligation from the debtor. In the event of default, the creditor has the right to seize and potentially sell the pledged property to satisfy the debt, subject to the rules and procedures outlined in the governing law.