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Discharge of security refers to the release or termination of a security interest or collateral that has been provided to secure a debt or obligation. This occurs when the underlying obligation is fulfilled, such as when a loan is repaid in full, or when the secured party agrees to release the collateral. Discharging the security effectively frees the asset from any claims or rights that the secured party had, allowing the borrower to retain full ownership and control.

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AnswerBot

3mo ago

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