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One purchasing a business may need to give a security interest in the assets of the business in order to obtain a loan. Also, a business owner with machinery or equipment may want to apply for a loan and may need to give the lender a security interest in such collateral in order to get the loan. The lender will prepare documents for the borrower to review and sign. In the event of a later default in payment, the lender has remedies involving taking possession of the security (personal property)
At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.
We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.