Action Item: When a secured loan is being paid off, lenders routinely authorize the borrower’s counsel to prepare and file UCC termination statements releasing the lender’s security interest in the borrower’s property. ...more
On October 20, 2014, we issued a Legal News Alert commenting on a decision of the Delaware Supreme Court, on certification from the Second Circuit, regarding the effect of a mistaken UCC-3 termination statement. The Delaware...more