Does security interest on a loan need to be repaid?
MultiRegion, United States of America
The following excerpt is from Pope v. Savings Bank of Puget Sound, 850 F.2d 1345 (9th Cir. 1988):
31 Once a debt has been repaid, the security interest which was given to secure the repayment of the loan cannot be enforced. Kvame v. Patrick, 57 Wash.2d 343, 345, 357 P.2d 167, 169 (1960).
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