What is a “Purchase Money Security Interest”?
A “purchase-money security interest” (or “PMSI”) is a security interest securing a “purchase-money obligation”, or an obligation incurred by a debtor to buy collateral...more
On January 16, 2015, Chief Judge Leonard P. Stark of the United States District Court for the District of Delaware issued an opinion that reversed an order of the Delaware Bankruptcy Court that approved a settlement, and...more
In a recent blog entry, I discussed the divergent treatment of name changes and other post filing or registration events under the Uniform Commercial Code (UCC) and the Personal Property Security Act (PPSA). This blog entry...more
Arizona anti-deficiency laws do not prohibit a non-purchase money lender from suing on its note after foreclosure by a senior lender. In Wells Fargo Bank, N.A. v. Brewer, No. 1CA-CV 12-0383 (Ariz. Ct. App. May 21, 2013...more
On July 23, the California Court of Appeal, Fourth Appellate District, held in a case of first impression that a section of California law that prohibits a deficiency judgment following a foreclosure on a purchase money loan...more
In Enloe v. Kelso, 2013 WL 3357884 (2d Dist. 2013), the Second District Court of Appeal wrote a (characteristically) “short and sweet” opinion holding that the prohibition on obtaining a deficiency judgment under a deed of...more
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