The Arizona Certificate of Retention of Debtor in Possession is a document used by a debtor to maintain their possession of collateral and the right to use it, even after a debt has been secured by a creditor. The document is used to protect the debtor's rights to the collateral and prevent it from being taken by the creditor. There are four types of Arizona Certificate of Retention of Debtor in Possession. These are: Secured Party Reinstatement, Secured Party Renewal, Secured Party Subordination, and Secured Party Waiver. Each type of certificate serves a different purpose and provides the debtor with different levels of protection in regard to the collateral. For example, the Secured Party Reinstatement certificate allows a debtor to maintain possession of the collateral and use it as a guarantee of payment for the debt. The Secured Party Renewal certificate allows a debtor to extend the length of the debt term, while the Secured Party Subordination certificate allows a debtor to prioritize the collateral’s security over other debts. Finally, the Secured Party Waiver certificate allows a debtor to release the collateral from any security agreement.
Arizona Certificate of Retention of Debtor in Possesion
State:
Arizona
Control #:
AZ-DC-207
Format:
PDF
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Certificate of Retention of Debtor in Possesion
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