California has made some modifications as well, implementing its own version of the UCC laws. The regulation of real estate contracts is an exception to California's adoption of the UCC. State laws regulating the purchase ofreal estate, such as a warehouse, are covered by other state real est...
the taking of security interests in personal property, documents of title regarding personal property,and letters of credit.The word “uniform”is misleading because all states have their own customized versions of the UCC.The UCC is important to real property because many real estate transactions in...
Lenders have the option of filing the following two types of UCC-1 statements: Specific collateral UCC-1 statements. These are most commonly used inreal estateor equipment transactions. They give lenders first-order secured rights to real estate properties or specific collateral such as the equipmen...
for all purposes and in all proceedings, legal or equitable, shall be regarded, at Mortgagees' option (to the extent permitted by law) as part of the Real Estate whether or not any such item is physically attached to the Real Estate or serial numbers are used for the better identification...
The law that precedes UCC 9-308 is UCC 9-307, which covers the Location of Debtor. According toCornell Law School, here is the legal definition of that section: (a) ."Place of business.". In this section, "place of business" means a place where a debtor conducts its affairs. ...
The article argues that the drafters in deciding on a definition of fixtures isolated themes of commonality and described those themes in a concise, but useful description of the fixture. Those themes include the joining of goods to realty, the concept of relation, and the emphasis on interests...
A fee simple estate in real property may not be transferred with a bill of sale. (a) True (b) False. State and local governments can tax interstate commerce provided certain conditions are met. True False True or False: 1....
Statute of Frauds is a legal concept enforceable by law. It states that there is a specific kind of contract that should be written so that in case of any fraud, the contract could be easily identified and interpreted by the cour...