Search results
Results from the WOW.Com Content Network
Collateral Protection Insurance, or CPI, insures property held as collateral for loans made by lending institutions. CPI, also known as force-placed insurance and lender placed insurance, [1] may be classified as single-interest insurance if it protects the interest of the lender, a single party, or as dual-interest insurance coverage if it protects the interest of both the lender and the ...
Collateral is legally watertight, valuable liquid property [4] that is pledged by the recipient as security on the value of the loan. The main reason of taking collateral is credit risk reduction, especially during the time of the debt defaults, the currency crisis and the failure of major hedge funds. But there are many other motivations why ...
A security interest becomes enforceable against the collateral as soon as it attaches. Attachment requires three things: (i) that the debtor have rights in the collateral or the power to convey rights; (ii) that value be given; and (iii) in most cases, that the debtor have authenticated a security agreement that adequately describes the collateral.
Collateral protection insurance (CPI) is a lender-chosen safeguard when borrowers lack full coverage car insurance. CPI coverage typically focuses on physical damage, including collision and ...
Examples of typical collateral are shares of stock, livestock, and vehicles. A security agreement is not used to transfer any interest in real property (land/real estate), only personal property. The document used by lenders to obtain a lien on real property is a mortgage or deed of trust.
In January 1985, the first Civil Protection Act was passed. [11] In 1999 a representative of the Nuclear Safety Council was integrated in the National Civil Protection Committee. Civil Defence Vehicle in Úbeda, Andalusia. It was in 2004 when the term “Emergencies” was added to the name of the directorate-general. [12]
Collateral warranties may be provided by designers, building contractors and specialist sub-contractors. The need for collateral warranties exists when the party that commissions a building will not carry the burden in the event of defects. For instance, when an architect is appointed to design a group of dwellings for a developer.
The Real Estate Settlement Procedures Act (RESPA) was a law passed by the United States Congress in 1974 and codified as Title 12, Chapter 27 of the United States Code, 12 U.S.C. §§ 2601–2617.