Perfected Security Instrument
Follows The Paper Negotiated Promissory Note
The Uniform Commercial Code Theory
Interest In
Personal Property
Paper Promissory Note
Security Instrument
Promissory Note
UCC Article 3
UCC Article 9
Negotiation
Follows
Loan Origination
Interest In Real Property
U.C.C. – Article 9 ‐Secured Transactions;
Sales of Accounts and Chattel Paper
Part 1. Short Title, Applicability and Definitions
§ 9-104. Transactions Excluded From Article
This Article does not apply
(j) except to the extent that provision is made for fixtures in Section 9-313, to
the creation or transfer of an interest in or lien on real estate, including a
lease or rents thereunder - As amended in 1972
[Subpart 2. Applicability of Article] [Table of Contents]
§ 9‐109. SCOPE.
(d) [Inapplicability of article.]
This article does not apply to:
(11) the creation or transfer of an interest in or lien on real property, including a lease or rents thereunder, except to the extent that provision is made for:
(A) liens on real property in Sections 9‐203 and 9‐308;
§ 9‐308. WHEN SECURITY INTEREST OR AGRICULTURAL LIEN IS PERFECTED; CONTINUITY OF PERFECTION.
(d) [Supporting obligation.]
Perfection of a security interest in collateral also perfects a security interest in a supporting obligation for the collateral.
© Copyright 2005 by The American Law Institute and the National Conference of Commissioners on Uniform State Laws; reproduced, published and distributed with the permission of the
Permanent Editorial Board for the Uniform Commercial Code for the limited purposes of study, teaching, and academic research.
Copyright 2010 [Link] P O Box 1352, Bedford, Texas 76095-1352
Assigned – Loss of Perfected Security Instrument
Does Not Follow The Paper Negotiated Promissory Note
Interest In
Personal Property
Security Instrument In MERS as
Loss of Continued Perfection
Paper Promissory Note
Name Does Not Follow
Promissory Note
UCC Article 3
UCC Article 9
Negotiation
Nominee
Loss of
Perfection
Loan Origination
Interest In Real Property
U.C.C. – Article 9 ‐Secured Transactions;
Sales of Accounts and Chattel Paper
Part 1. Short Title, Applicability and Definitions
§ 9-104. Transactions Excluded From Article
This Article does not apply
(j) except to the extent that provision is made for fixtures in Section 9-313, to
the creation or transfer of an interest in or lien on real estate, including a
lease or rents thereunder - As amended in 1972
[Subpart 2. Applicability of Article] [Table of Contents]
§ 9‐109. SCOPE.
(d) [Inapplicability of article.]
This article does not apply to:
(11) the creation or transfer of an interest in or lien on real property, including a lease or rents thereunder, except to the extent that provision is made for:
(A) liens on real property in Sections 9‐203 and 9‐308;
§ 9‐308. WHEN SECURITY INTEREST OR AGRICULTURAL LIEN IS PERFECTED; CONTINUITY OF PERFECTION.
(d) [Supporting obligation.]
Perfection of a security interest in collateral also perfects a security interest in a supporting obligation for the collateral.
© Copyright 2005 by The American Law Institute and the National Conference of Commissioners on Uniform State Laws; reproduced, published and distributed with the permission of the
Permanent Editorial Board for the Uniform Commercial Code for the limited purposes of study, teaching, and academic research.
Copyright 2010 [Link] P O Box 1352, Bedford, Texas 76095-1352
Non-Perfected Security Instrument
Does Not Follow The Electronic Negotiated Promissory Note
Interest In
Personal Property
Security Instrument In MERS as Nominee
Electronic Promissory Note
Lacks Supporting Law
Name Does Not Follow
Invalid Perfection
Promissory Note
UCC Article 3
Negotiation
UCC Article 9
Scanned To
Electronic
Loan Origination
Interest In Real Property
U.C.C. – Article 9 ‐Secured Transactions;
Sales of Accounts and Chattel Paper
Part 1. Short Title, Applicability and Definitions
§ 9-104. Transactions Excluded From Article
This Article does not apply
(j) except to the extent that provision is made for fixtures in Section 9-313, to
the creation or transfer of an interest in or lien on real estate, including a
lease or rents thereunder - As amended in 1972
[Subpart 2. Applicability of Article] [Table of Contents]
§ 9‐109. SCOPE.
(d) [Inapplicability of article.]
This article does not apply to:
(11) the creation or transfer of an interest in or lien on real property, including a lease or rents thereunder, except to the extent that provision is made for:
(A) liens on real property in Sections 9‐203 and 9‐308;
§ 9‐308. WHEN SECURITY INTEREST OR AGRICULTURAL LIEN IS PERFECTED; CONTINUITY OF PERFECTION.
(d) [Supporting obligation.]
Perfection of a security interest in collateral also perfects a security interest in a supporting obligation for the collateral.
© Copyright 2005 by The American Law Institute and the National Conference of Commissioners on Uniform State Laws; reproduced, published and distributed with the permission of the
Permanent Editorial Board for the Uniform Commercial Code for the limited purposes of study, teaching, and academic research.
Copyright 2010 [Link] P O Box 1352, Bedford, Texas 76095-1352