Security Interest Raymond agreed to sell Glover her John Deere tractor for $12,000. The agreement called for Glover to pay $3,000 down and the balance in monthly installments for two years. Under the terms of the agreement, title to the tractor would not pass to Glover until the $12,000 was paid in full. Because Raymond delivered the tractor to Glover on the day that the agreement was signed, title passed to Glover at that time, regardless of the terms in the contract. The effect of those terms was to give Raymond a security interest in the tractor for the balance of the money owed to her.