Principles of rights of real and personal security in South African law
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The authors emphasize the commonality of the underlying principles, eg the principle of accessoriness, governing all categories of security rights. The vesting of a real security right does not change the balance of the assets in the debtor’s estate – it merely ring-fences the recoverable value of the identified objects of security in favour of the preferred and secured creditors. With personal security rights, the recovery is extended to include all the assets of someone other than the primary debtor – the surety.
