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Understanding UCC Article 9 Foreclosures

presented by Lorman Education Services
View the Lorman Education Services Profile and Course Listings

Summary

Understanding UCC Article 9 Foreclosures

Workshop Description/Agenda

Benefits
Learn how lenders can use their rights under UCC Article 9 to successfully collect on defaulted obligations.Many lenders and borrowers aren't familiar with the full range of remedies available after a borrower defaults on a secured obligation, and the lender decides to foreclose on its collateral. Article 9 of the Uniform Commercial Code is a powerful, but sometimes misunderstood, tool for borrowers and lenders. This topic helps borrowers, lenders, and their lawyers to understand what they can and can't do under Article 9. Lenders and their lawyers will learn how to best use their rights under Article 9 to collect on defaulted obligations. Borrowers and their lawyers will learn how to protect their rights against lenders who, in their zeal, may overstep the limits imposed on their powers by Article 9.

Agenda
Necessary Preparations and Preliminary Steps • Identifying Collateral • Perfection • Default and Right to Foreclose Public and Private Sales • Public and Private Sales Distinguished • Procedures for Public and Private Sales • Commercially Reasonable Disposition Strict Foreclosure • Distinguishing Features • Procedures for Strict Foreclosure • Benefits and Risks of Strict Foreclosure Other Article 9 Remedies • Notices to Account Debtors • Setting off Deposit Accounts • Recording Security Agreement in Land Offices Application of Proceeds, and Post-Foreclosure Issues • How to Apply Proceeds of Collateral • Effect on Subordinate Interests • Preference and Fraudulent Transfer Issues

Faculty
Hugh McCullough with Davis Wright Tremaine LLP

Credits
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request.

Who Should Attend

This live webinar is designed for attorneys, presidents, vice presidents, branch managers, loan officers, loan department personnel, credit and collection managers, controllers, business executives, accountants and real estate professionals.

Additional Information

Training Provider: Lorman Education Services

Course Topics: Law Training > Bankruptcy/Collection

Training Course Summary: Understanding UCC Article 9 Foreclosures


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On-Demand Webinar Details

Recorded on 7/30/2018