Security Property Law and Legal Definition

According to 12 USCS § 3702 [Title 12. Banks and Banking Chapter 38. Multifamily Mortgage Foreclosure] security property means “the property, real, personal or mixed, or an interest in property, including leaseholds, life estates, reversionary interests, and any other estates under applicable State law, together with fixtures and other interests subject to the lien of the mortgage under applicable State law.”