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Debt Liens Uniform Commercial Code (UCC)

Lathrop GPM

Utah Bankruptcy Court Applies “Freeze Rule” to Preserve Secured Creditor’s Lien Priority When Financing Statement Lapses...

Lathrop GPM on

Pursuant to Uniform Commercial Code (UCC) § 9-515(c), a UCC-1 financing statement filed to perfect a secured party’s lien on personal property collateral lapses five years from the filing date unless the secured creditor...more

Amundsen Davis LLC

Cross Collateralization Generally Not Created By Note Alone

Amundsen Davis LLC on

From time to time, we review loan files for clients to confirm they have the collateral they think they do. Assume a lender has a properly perfected $1,000,000 mortgage loan and a $500,000 line of credit secured by all of the...more

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