If the borrower defaults on the loan, the lender can seize the listed collateral to recoup the outstanding balance. A UCC-1 financing statement is a type of UCC filing that a lender files with the ...

in the case of most types of personal property, the debtor has signed or otherwise authenticated a security agreement containing a description of the collateral. UCC §9-108 contains the rules for ...

There are two types of UCC-1 statements: blanket liens and liens attached to specific collateral. The purpose of a UCC-1 is to disclose a creditor's security interest in a debtor's collateral.

There are two types of UCC filings that creditors can file: Specific collateral lien. With this type of lien, the creditor is only laying claim to a specific asset. For example, if you get an ...

UCC-1 filings are easy to make correctly and a disaster if done wrong. Many types of commercial financing ... lender a relatively straight path to its collateral. The lender doesn’t need to ...

Blanket or “all assets” security interests are among the most common, if not the most common, type of ... lien collateral description in a security agreement and one in a UCC financing statement.

Article 9 divides collateral into types, which are defined in the Uniform Commercial Code (UCC),[1] and provides different rules with respect to the different types. Under the current bitcoin ...

This article explains how these changes highlight how they facilitate financing transactions that involve digital assets as collateral. Proposed UCC Article 12 seeks to provide a legal regime for ...