Link line in the Security Agreement effortlessly

Aug 6th, 2022
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How to Link line in the Security Agreement

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[Music] [Music] morning people another guy glorious victorious morning here in paradise uh today im going to do a short spiel on these our security agreements and to remind people that the security agreement is the lien the registration of the lien or no or the security interest is done by way of registration under the personal property security act or ucc article eight so on so forth and uh pardon me nine and uh article nine in whatever jurisdiction youre in now people some other jurisdictions one thing you want to look at to help you uh locating stuff uh legislation codes whatever is when every country has banking and banking registers security interests so if youre having trouble finding out under by what authority theyre doing these things then find out what the banks do what what laws rules regulations are they relying on to secure interest in property and um thatll help you out there a little bit and uh so anyway i got to do a screen show here of our security agreement now s

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In a secured transaction, the Grantor (typically a borrower but possibly a guarantor or surety) assigns, grants and pledges to the grantee (typically the lender) a security interest in personal property which is referred to as the collateral. Examples of typical collateral are shares of stock, livestock, and vehicles.
seeking to obtain a perfected security interest based on a description of collateral contained in the underlying security agree- ment or another document should play it safe by providing a summary description of the collateral in the financing statement and attaching the referenced document to the financing statement.
Put simply, collateral is an item of value that a lender can seize from a borrower if he or she fails to repay a loan ing to the agreed terms. One common example is when you take out a mortgage. Normally, the bank will ask you to provide your home as collateral.
Collateral descriptions often include an after-acquired property clause to include within the scope of the collateral certain property that was not in the debtors possession when the security agreement was executed but which may come into the debtors possession afterward.
Terms Contained in a Security Agreement A basic security agreement should have the description of the parties involved, the collateral and the statement of intention of providing security interest along with signatures from all parties.
A security agreement must contain a description of the collateral that reasonably identifies it. The state office in which a financing statement should be filed depends on the debtors location. A continuation statement will continue the effectiveness of a financing statement for five years.
UCC 9-203 sets forth the requirements for attachment and enforceability of security interests. In general: (1) the creditor must give value, (2) the debtor must have rights in the collateral, and (3) there must be a security agreement or other action indicating an intent to convey a security interest.
The Collateral consists of all of Borrowers right, title and interest in and to the following personal property: All goods, Accounts (including health-care receivables), Equipment, Inventory, contract rights or rights to payment of money, leases, license agreements, franchise agreements, General Intangibles (except as

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