perfect


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perfect

(pronounced with the emphasis on the second syllable, not the first) To complete all steps necessary to establish a security interest in property that will take priority over later lenders. As between a lender and a borrower, a mortgage is effective and enforceable even if it is never recorded in the real estate records. If a third party, such as another lender, loans money to the debtor and records its own mortgage, then the second lender will have first rights in the property. The recordation of the mortgage, or of a UCC-1 for personal property, is called perfecting a security interest.Note:The UCC-1 is named for the Uniform Commercial Code form used to record notice of a security interest in personal property.

References in classic literature ?
The concoction of the draught has been perfect," said he, in answer to Georgiana's look.
Thy sensible frame, too, shall soon be all perfect.
As the last crimson tint of the birthmark--that sole token of human imperfection--faded from her cheek, the parting breath of the now perfect woman passed into the atmosphere, and her soul, lingering a moment near her husband, took its heavenward flight.
What keeps Delahoussaye riding is the same thing that keeps a lot of otherwise disheartened horsemen coming back to the racetrack - a 3-year-old like Perfect Drift and the chance to win a Kentucky Derby.
Theresa is an invaluable addition to our board, bringing a wealth of expertise, business acumen and insights into procurement needs worldwide from first-hand experience," said John Sharman, president and CEO of Perfect Commerce.
Perfect Game USA is the brainchild of Jerry Ford (not the late president), who opened an indoor baseball facility in his hometown of Cedar Rapids, Iowa, and began holding player "showcases" in 1993, at first locally and eventually nationally.
2 : satisfying all requirements <It was the perfect ending to a perfect day.
Perfect Drift, the Kentucky-based 7-year-old gelding who ran second in the Pacific Classic the past two years, is back at Del Mar for another try with brash-talking trainer Murray Johnson.
The Perfect Body: The Pilates Way with Lynne Robinson (Director of the Body Control Pilates Academy and the Body Control Pilates Association--Europe's largest school for Pilates teachers with over 700 teaching members) is a 90 minute, full color, live action, informational exercise DVD guiding viewers through a series of Pilates exercises that includes such basics as alignment, breathing, centering (using the deep abdominal muscles), two balanced workouts, "The Series of Five" offering classical Pilates for beginners to advanced exercisers, and "The Relaxation Session"--a series of gentle movements designed to release tension from the body for a perfect conclusion to a physical workout.
Don't wait for that perfect time or those perfect conditions to take care of your PM business.
And don't forget the handy serving suggestions for Perfect Portions at pillsbury.