Indiana Notice of Private Sale of Collateral (Non-consumer Goods) on Default
Description
How to fill out Notice Of Private Sale Of Collateral (Non-consumer Goods) On Default?
US Legal Forms - one of the largest collections of legal documents in the United States - offers a wide variety of legal template forms that you can download or print.
By utilizing the website, you can access thousands of forms for business and personal purposes, organized by categories, states, or keywords.
You can quickly find the most recent versions of forms such as the Indiana Notice of Private Sale of Collateral (Non-consumer Goods) on Default.
Read the form description to confirm you have chosen the correct document.
If the form does not meet your requirements, use the Search field at the top of the screen to find the one that does.
- If you already have a subscription, Log In and download the Indiana Notice of Private Sale of Collateral (Non-consumer Goods) on Default from the US Legal Forms library.
- The Download button will appear on each form you view.
- You have access to all previously saved forms in the My documents section of your account.
- If you are using US Legal Forms for the first time, here are simple steps to get started.
- Ensure you have selected the correct form for your location/region.
- Click the Preview button to review the form's content.
Form popularity
FAQ
Under Section 9-611 of the Uniform Commercial Code, a secured creditor is required, in most circumstances, to send a reasonable authenticated notification of disposition. The notice is intended to provide the debtor, and other interested parties, an opportunity to monitor the disposition of the collateral, purchase
Under §9-622, a proposal to accept collateral in full satisfaction of the debt that is consented to by the debtor discharges the obligation not just the consenting debtor's liability for that obligation.
If the debtor defaults under its obligation, the secured creditor may proceed to sell the assets representing the collateral under the secured party's Credit Agreement.
Article 9 is an article under the Uniform Commercial Code (UCC) that governs secured transactions, or those transactions that pair a debt with the creditor's interest in the secured property.
If a borrower defaults on a secured credit product, the secured creditor has a legal right to the secured asset used as collateral. The secured asset may be seized by the secured creditor and sold to pay off any remaining obligations.
Article 9 is an article under the Uniform Commercial Code (UCC) that governs secured transactions, or those transactions that pair a debt with the creditor's interest in the secured property.
Generally, a secured creditor may seek to enforce its rights on its collateral upon a borrower's default. A secured creditor's remedies include an Article 9 sale, the right to sell the collateral to a third party in a private or public sale without judicial proceedings.
(12) "Collateral" means the property subject to a security interest or agricultural lien. The term includes: (A) proceeds to which a security interest attaches; (B) accounts, chattel paper, payment intangibles, and promissory notes that have been sold; and. (C) goods that are the subject of a consignment.
Collateral Disposition means any sale, transfer or other disposition (whether voluntary or involuntary) to the extent involving assets or other rights or property that constitute Collateral.
If the debtor defaults and does not repay the loan, generally the secured party can foreclose and recover the collateral. A person who has an ownership or other interest in the collateral and owes payment of a secured obligation Revised UCC 9-102(a)(28).
