Meta Overview: This comprehensive guide explores the definition of a Document of Title under the Uniform Commercial Code (UCC), specifically focusing on its critical role as collateral in Article 9 secured transactions. Learn the nuances of perfection, including the importance of possession and the interplay with UCC Article 7. Understanding the Nexus of UCC Article […]
Meta Summary: Security Interests Explained For small business owners and creditors, understanding a security interest is critical. It’s the legal right a creditor has in a debtor’s property (collateral) to ensure repayment of a loan. This guide explores the two pillars of a secured transaction—attachment and perfection—and how filing a financing statement (UCC-1) establishes priority
Keywords: Civil, Contract, Property, Filing & Motions, How-to Guides, Compliance, UCC-1, Security Agreement, Debtor, Secured Party, Collateral, Perfection, Attachment, Priority, Legal Procedures, Case Law, Legal Forms, Guides & Checklists, Federal, State, Law Reviews & Articles, Statutes & Codes, Legal Resources Understanding security interests is fundamental for anyone involved in lending, borrowing, or business transactions. A