US Legal Forms
Spec Forms
Utah
Security Agreement in Accounts and Contract Rights

Utah Security Agreement in Accounts and Contract Rights

Category:

Loans and Lending - Security Agreements

State:

Multi-State

Control #:

US-01730BG

Format:

Instant download

Description

A secured transaction is created when a buyer or borrower (debtor) grants a seller or lender (creditor or secured party) a security interest in personal property (collateral). A security interest allows a creditor to repossess and sell the collateral if a debtor fails to pay a secured debt.

A secured transaction involves a sale on credit or lending money where a creditor is unwilling to accept the promise of a debtor to pay an obligation without some sort of collateral. The creditor requires the debtor to secure the obligation with collateral so that if the debtor does not pay as promised, the creditor can take the collateral, sell it, and apply the proceeds against the unpaid obligation of the debtor. A security interest is an interest in personal property or fixtures that secures payment or performance of an obligation. The property that is subject to the security interest is called the collateral. The party holding the security interest is called the secured party.

Arkansas MONEY LAUNDERING B Domestic Financial Transaction

View this form

California MONEY LAUNDERING B Domestic Financial Transaction

View this form

Colorado MONEY LAUNDERING B Domestic Financial Transaction

View this form

Connecticut MONEY LAUNDERING B Domestic Financial Transaction

View this form

Delaware MONEY LAUNDERING B Domestic Financial Transaction

View this form

18 U.S.C. Sec. 152(4) PRESENTING OR USIN...

View this form

Sample Identity Theft Policy for FCRA and ...

View this form

Agreement of Merger - Certificate of Merger

View this form

8.101 Reckless Damage to a Protected Compu...

View this form

Sample Letter for Acceptance of Job Offer ...

View this form

Right of Way Easement

View this form

Gas Pipeline Public Road Access Ordinance

View this form

2.12 EXPLANATORY: RULE 1006 SUMMARIES

View this form

Sample Letter for Customer Follow-up - Sma...

View this form

Annual Stockholder Meeting Minutes - Corpo...

View this form

How to fill out Security Agreement In Accounts And Contract Rights?

If you need to full, down load, or produce lawful document web templates, use US Legal Forms, the largest assortment of lawful varieties, which can be found on the web. Use the site`s simple and convenient research to obtain the papers you want. Different web templates for company and specific reasons are categorized by types and states, or keywords. Use US Legal Forms to obtain the Utah Security Agreement in Accounts and Contract Rights with a handful of click throughs.

In case you are currently a US Legal Forms client, log in to the account and then click the Download switch to obtain the Utah Security Agreement in Accounts and Contract Rights. You may also entry varieties you previously acquired inside the My Forms tab of your account.

If you are using US Legal Forms the very first time, refer to the instructions under:

Step 1. Ensure you have chosen the shape for the correct area/land.
Step 2. Utilize the Preview method to examine the form`s articles. Do not forget about to see the explanation.
Step 3. In case you are not satisfied with all the kind, utilize the Lookup area on top of the display screen to discover other versions of your lawful kind web template.
Step 4. After you have discovered the shape you want, click on the Acquire now switch. Select the pricing prepare you choose and put your references to register to have an account.
Step 5. Approach the purchase. You may use your charge card or PayPal account to perform the purchase.
Step 6. Choose the file format of your lawful kind and down load it on your product.
Step 7. Comprehensive, modify and produce or indication the Utah Security Agreement in Accounts and Contract Rights.

Every lawful document web template you purchase is your own property forever. You have acces to every single kind you acquired in your acccount. Click the My Forms area and pick a kind to produce or down load once again.

Contend and down load, and produce the Utah Security Agreement in Accounts and Contract Rights with US Legal Forms. There are thousands of expert and state-specific varieties you can use for your personal company or specific requires.

Form popularity

FAQ

Attachment and enforceability of security interest -- Proceeds -- Supporting obligations -- Formal requisites. A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement expressly postpones the time of attachment.

Article 9 of the UCC: Governing Security Agreements Security interest is largely regulated via Article 9 of the Uniform Commercial Code (UCC). This legislation provides uniformity across the lending industry while alerting both debtors and creditors to their rights.

In a transaction other than a consumer-goods transaction, a secured party claiming a purchase-money security interest has the burden of establishing the extent to which the security interest is a purchase-money security interest.

A security agreement creates the security interest, making it enforceable between the secured party and the debtor. A UCC-1 financing statement neither creates a security interest nor does it alter its scope; it only gives notice of the security interest to third parties.

Thus, when the collateral is not in the possession of the secured party, a security agreement must be in writing to be enforceable. The agreement must be signed by the debtor, contain a description of the property, and the description must reasonably identify the property involved (the collateral).