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Special Report on

Purchase Money Security Interest

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--As used in this section, the following words and phrases shall have the meanings given to them in this subsection: "Purchase-money collateral." Goods or software which secures a purchase-money obligation incurred with respect to that collateral. "Purchase-money obligation." An obligation of an obligor incurred as all or part of the price of the collateral or for value given to enable the debtor to acquire rights in or the use of the collateral if the value is in fact so used. (b) Purchase-money security interest in goods. --A security ...
is a property interest created by agreement or by operation of law over assets to secure the performance of an obligation, usually the payment of a debt. It gives the beneficiary of the security interest certain preferential rights in the disposition of secured assets. Such rights vary according to the type of security interest, but in most cases, a holder of the security interest is entitled to seize, and usually sell, the property to discharge the debt that the security interest secures.
Lien Avoidance in Nevada Bankruptcies
Your bankruptcy attorney has many powerful to help you keep property while eliminating debt. One tool is lien avoidance, which is available to both Chapter 7 and Chapter 13 debtors. The general rule in bankruptcy is that debts secured by a lien must be paid or the property must be surrendered to the creditor. However, under certain circumstances, a lien can be legally avoided without losing the property.   The Bankruptcy Code identifies two different types of liens that may be avoided during bankruptcy: (1) a judicial lien; and (2) a non-possessory, non-purchase money security interest in household goods or ... market research, surveys and trends
What is motion to avoid lien in bankruptcy? | Bankruptcy Software
Liens that attach to assets that the debtor is entitled to claim as exempt can be avoided to the extent the lien impairs (or eats into) the value of the exemption in both Chapter 13 and Chapter 7. To be avoidable, the lien must be a judicial lien (like a judgment or a garnishment), or a non possessory, nonpurchase money security interest in household goods or tools of the trade. Tax liens ( which are statutory liens, not judicial liens) aren’t avoidable in Chapter 7 even if they impair exemptions; tax liens can be avoided in Chapter 13 to the extent the lien is greater than the asset’s value. Is the lien a non ... market research, surveys and trends


Purchase Money Security Interest Suppliers Beware: Tracing ...
tory of approximately $7 million. However, it turned out that $2.5 ... supplier's inventory on any given day by determining the percent- ... industry trends, business articles and survey research
Lehman, Rangers, White Energy, Brown, Strauss Auto, Crunch ...
are forming lines of battle for and against the idea of substantively consolidating all of the Lehman companies under a Chapter 11 plan. In late June, creditors with $15.5 billion in claims against the Lehman holding company filed papers favoring substantive consolidation of the 23 Lehman affiliates. In substantive consolidation, the assets from all Lehman companies would be thrown into one pot and all unsecured creditors would receive the same distribution regardless of the particular company that owed the debt. Bank of New York Mellon Trust Co. filed papers on July 15 saying that the argument for substantive consolidation is ... industry trends, business articles and survey research
This matter came before the Court on June 30, 2010 upon the Motion to Compel Debtor to Reject Equipment Lease and for Relief from the Automatic Stay and Supporting Memorandum of Law (the "Motion") filed by TCP Leasing, Inc. ("TCP") on April 7, 2010. An initial hearing was held on April 28, 2010. At that hearing, Paul E. Davis appeared on behalf of TCP, Benjamin A. Kahn appeared on behalf of First Bank, Robert E. Price, Jr. appeared on behalf of the United States Bankruptcy Administrator, David F. Meschan appeared on behalf of the Unsecured Creditors Committee (the "Committee"), and Edwin H. ... market trends, news research and surveys resources
The Chapter 7 trustee, Norman Rouse ("Trustee"), seeks to avoid under 11 U.S.C. § 547(b) a transfer ("Transfer") that occurred when the Defendant, University National Bank ("UNB"), perfected within 90 days of the petition date a lien on an automobile owned by the Debtors. To avoid a preference, a trustee must establish every element of 11 U.S.C. § 547(b). That is, the transfer must have been: (1) of an interest of the debtor in property; (2) to or for the benefit of a creditor; (3) for or on account of an antecedent debt owed by the debtor before such transfer was made; (4) made while the ... market trends, news research and surveys resources


relatively simple security device to protect their interests, the Purchase Money Security Interest. (“PMSI”). This article discusses the requirements for ... technology research, surveys study and trend statistics
355.9-103 Purchase-money security interest -- Application of ...
(2) A security interest in goods is a purchase-money security interest: ... purchase-money security interest has the burden of establishing the extent to ... technology research, surveys study and trend statistics
U.C.C. - ARTICLE 9 -§9-105.
means a writing or writings which evidence both a monetary obligation and a security interest in or a lease of specific goods , but a charter or other contract involving the use or hire of a vessel is not chattel paper. When a transaction is evidenced both by such a security agreement or a lease and by an instrument or a series of instruments, the group of writings taken together constitutes chattel paper; (c) "Collateral" means the property subject to a security interest, and includes accounts and chattel paper which have been sold; (d) "Debtor" means the person who owes payment or other ...
  1. profile image FastWomen Bankruptcy Questions : What Is Purchase Money Security Interest in Bankruptcy? -
  2. profile image briandlerner A creditor does not have a purchase money security interest in the "negative equity" of a vehicle traded in at the t...
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Purchase money security interest? - Yahoo! Answers
"A security interest that is created when a buyer uses the lenders money to make the purchase and immediately gives the lender security ([See the Uniform Commercial Code]); a security interest that is either (1) taken or retained by the seller of the collateral to secure all or part of its price or (2) taken by a person who by making advances or incurring an obligation gives value to enable the debtor to acquire rights in or the use of collateral if that value is in fact so used. *** If a buyer's purchase of a boat, for example, is financed by a bank that loans the amount of the purchase price, the bank's ...
Collections Law: Purchase-money security interest, interest ...
I can answer questions on collections, repossessions, bankruptcy, credit repair, credit counseling, FICO scores, credit planning, and the cause and effect of credit related decisions. I can also answer questions on collection settlements and preparing to sue your creditors for false debts and credit credit reporting. Experience Fifteen years ago I was financially devasted due to severe health issues. I filed bankruptcy, had a foreclosure, car repossession, tax lien, and ruined credit. I immersed myself in credit law. I settled dozens of accounts and had them removed to improve my credit. I personally sued four creditors and ...