Truth in Lending: 5.8.3 Purchase Money Security Interests
If the consumer purchases the secured property as part of the credit transaction (a credit sale) or with the proceeds of the credit transaction (a loan), the property need only be generally identified.436 For example, the official interpretations suggest disclosing a security interest in “the property purchased in this transaction.”437 At its option, the creditor can provide a more specific identification of the secured property.438