Capable of being seized or taken as security, especially property or possessions subject to legal distrain.
From distrain plus the suffix -able (capable of being), creating an adjective for property subject to seizure under law.
In old property law, there was a careful distinction between what was distrainable (your furniture) and what wasn't (sacred church items), showing how even seizure rights had exceptions.
Complete word intelligence in one call. Free tier — 50 lookups/day.