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 periodicals archive ?
It seems clear that responses to the question of whether or not one saw oneself as a perfectionist depended on how each participant defined perfectionism.
Unfortunately, neither did my perfectionist tendencies.
Also, by promoting those with the most perfectionist instincts you are indeed drumming home your point.
Dudley Moore was an actor, a comedian, and the husband to a perfectionist wife: he left a promising career in jazz piano to become a comedian, then an actor--and his personal life was fraught with illness and trials.
Le Tigre is a band full of perfectionist control freaks--and we like it that way--whereas Sarah and Brendan are really loose.
By contrast, critics on the left are likely to argue that minimalism is only useful as a defensive strategy, and that a perfectionist strategy was necessary to achieve breakthrough successes in desegregation (Brown v.
From Zaha Hadid's impossibly fluid rooms with no corners, to Norman Foster's havens of perfectionist serenity; from David Chipperfield's Zen-like visions of relaxation to Ron Arad's eclectic mixing of moods and materials, Puerta America is the ultimate in deluxe set dressing, bringing the gossamer wing world of superstar architecture to the modern, discerning traveller in one convenient package.
He's a perfectionist and wanted to break his personal best of 47-2 set last year at the Southern Section Div.
Now however, as a writing assistant, I have learned how my own perfectionist behavior can be detrimental to not only my own progress but also to the writer I am helping.
Once you start to realize that life can be better, if you're a perfectionist you're dangerous," Smith says.