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Adequate security

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Plain English definition

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Adequate security

from

Think Local Act Personal (TLAP) Jargon Buster

Think Local Act Personal
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If you are considering a 'deferred payment' agreement with your local council to fund your own care, the council will need to make sure that you can afford to repay them when the time comes - this is called making sure there is 'adequate security' for the agreement. This security may be the value of your house, or a valuable possession (for example, a piece of art or jewellery), or someone who can guarantee that payment will be made. Councils must publish a policy saying what types of security they will accept. SEE ALSO: Deferred payments

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