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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 periodicals archive ?
Remember your goal in marketing is success, not perfection.
Bake to Perfection Seafood will come in garlic & herb, sweet chilli and Thai green curry (rsp: [pounds sterling]3.
In 1988, Lister Perfection and National Fuel began collaborative development of the Polyethylene Shut-off Valve.
He tells Jesus this, and Jesus responds that his perfection is beyond obedience to the law.
The Epson Perfection V350 Photo and Epson Perfection V100 Photo scanners, with estimated street prices of $149 and $99 respectively, both feature a newly designed slim case suited for either portrait or landscape orientation with a high-rise lid and hinge that can be opened up to 180 degrees.
It's like this: When you are aiming for perfection, and nothing short of it will do, the temptation is to put everything off until there is time to do it all, and do it all perfectly.
The company introduced three new scanners: Perfection 4490 Photo, Perfection 3590 Photo and Perfection 3490 Photo.
Imaging products supplier Epson has announced the addition of two new scanners to the Epson range, the Perfection 3490 Photo and the Perfection 3590 Photo.
Formal engineering courses often bypass such topics as how models remain imperfect and under-developed: Approximating Perfection surveys these and other issues, emphasizing underlying logic and parallels between mechanics and math.
We are constantly pursuing perfection, and we stand behind that uniqueness with our guarantee.
Think: ``American Experience'' documentary on the creation of what one historian calls ``a fusion of perfections - it's a perfection of engineering, it's a perfection of social statement, it's a perfection of art.