a. How is a security interest created in personal property? What is the key legal document...

a. How is a security interest created in personal property? What is the key legal document in creating a security interest in personal property? How is a security interest perfected in personal property? What is the key legal document when it comes to perfecting a security interest in personal property by filing?

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A security interest is a collateral provided by the debtor to the creditor while taking a loan . This security interest in personal property is created by a written agreement between the two parties. This legal documents are created under article 9 of the Uniform Commercial Code. A securtiy interest may be perfected by filing a financial statement at the government's office . The main important legal document for the perfection is the agreement between the two parites in which the property is clearly stated.

keosha answered 1 year ago

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