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Financing Change Statement REG 3323 Service Alberta Servicealberta Gov Ab Form

Financing Change Statement REG 3323 Service Alberta Servicealberta Gov Ab Form

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[Music] what is a secured party in our who is a debtor video we talked about the characteristics and responsibilities of the debtor listed on a UCC financing statement today we will discuss the same for the secured party let's begin a secured party is defined as a lender or seller who holds a security interest or lien against pledged assets a secured party wants to give public notice that they have entered into a security agreement with a debtor when a UCC filing is executed properly it is more likely that the secured party will be satisfied of the proceeds of a foreclosure or liquidation before any unsecured parties it is always a good idea for a secured party to perform a UCC search to determine if there are existing liens filed against the debtor this will help them determine their place in line if they should have to collect on a defaulted loan what are the responsibilities of the secured party file the UCC one in the proper filing office it is the secured party's r

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