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I borrow some money from the bank, and I sign a security agreement that describes the collateral.

Melbourne, FL |

The bank does not file a financing statement. Has the bank security interest attached?

Attorney Answers 2

  1. Generally, a security interested isn't "perfected" unless he UCC-1 financing statement has been recorded with the state.

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  2. Generally the security interest is not perfected until the financing statement is filed. However, just because the bank may not have filed currently, does not mean that it will not do so later.

    Any response does not create an attorney - client relationship without both parties fully signing a representation agreement.