Search results
Results from the WOW.Com Content Network
For example, it uses the term "security right" in lieu of "security interest". On December 11, 2008, the Guide was subsequently endorsed by the 67th plenary meeting of the United Nations General Assembly in Resolution 63/121, which took effect January 15, 2009.
Another example of collateral for a security interest would be the car if someone takes out a car lien to help cover the costs. [15] The law treats differently those creditors who are secured (i.e. have an authenticated, perfected security interest) from those creditors who are unsecured. An unsecured creditor is simply a person who is owed ...
For example, under a common-law pledge (or pawn), the right to enforce the sale of the asset is contingent upon the possession of that asset: an agreement that leaves the debtor in possession of the pledged collateral does not give rise to an enforceable security interest.
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.
A deed of trust refers to a type of legal instrument which is used to create a security interest in real property and real estate.In a deed of trust, a person who wishes to borrow money conveys legal title in real property to a trustee, who holds the property as security for a loan from the lender to the borrower.
National security of Ukraine is defined in Ukrainian law as "a set of legislative and organisational measures aimed at permanent protection of vital interests of man and citizen, society and the state, which ensure sustainable development of society, timely detection, prevention and neutralisation of real and potential threats to national ...
This process is also called "perfecting the security interest" in the property, and this type of loan is a secured loan. [2] A financing statement may also be filed in the real estate records by a lessor of fixtures to establish the priority of the lessor's rights against a holder of a mortgage or other lien on the real property.
The United States is the global leader in security interest law with respect to personal property; in the 1940s, it was the first country to develop and enact the notion of a "unified" security interest. That concept has since spread to many countries around the world after it became evident that it is one of the reasons for why the United ...