security agreement


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security agreement

A contract that grants a creditor a lien in personal property belonging to the debtor. Every state has passed some version of the Uniform Commercial Code, Article Nine, which addresses security agreements and their consequences. A mortgage lender will often require a separate security agreement and UCC-1, which is the document filed in the public records to provide evidence of a security agreement.Lenders do this so that if there is later a default and argument regarding whether specific additions to the real estate constitute real or personal property, the lender is covered both ways. Formerly known as a chattel mortgage.

References in periodicals archive ?
BAGHDAD / NINA / The member of the security and defense parliamentary committee Hamid al-Mutlaq criticized the slow pace of the United States in the implementation of the items stipulated in the security agreement signed with them.
Kuwait and Turkey signed a security agreement in 2005 over cooperation in the fight against terrorism, organized crime, drugs, smuggling, and illegal immigration.
Sign Bilateral Security Agreement Afghanistan and the US have signed a Bilateral Security Agreement (B.
The signing of the Bilateral Security Agreement sends a long-awaited and unequivocal message that the United States and Afghanistan are determined not just to sustain, but to build on more than a decade of progress.
In a statement, she pointed out that the Iraqi people "reject the entry of any foreign troops within the international alliance under the pretext of fighting Da'ish organization without prior coordination or security agreement with Iraq.
Prior to his departure to Pakistan at Tehran's Mehrabad International Airport on Monday, Rahmani Fazli said pursuing implementation of the Tehran-Islamabad security agreement will be a top agenda in his visit to Pakistan.
Dubai: A security agreement signed by Gulf Cooperation Council states has become the subject of controversy in the region, escalating into a fierce public debate in Kuwait that has divided the public.
WASHINGTON, Rabi'II 27, 1435, Feb 27, 2014, SPA -- NATO defense ministers convened a two-day meeting here Wednesday with a renewed warning that they are prepared to withdraw all of their troops from Afghanistan without a signed security agreement.
WASHINGTON (PAN): The United States on Saturday welcomed NATO's decision to begin talks on the status of forces agreement (SOFA) with Afghanistan, saying its conclusion is based on signing of the bilateral security agreement (BSA).
President Karzai, who days ago visited Iran and South Africa, according to officials, during his stay to India, will also exchange views with Indian leaders on the situation in Afghanistan and inking security agreement known as Bilateral Security Agreement (BSA) with Washington to allow the United States to keep limited number of troops in Afghanistan after 2014 pullout of NATO- led forces from the war-torn country.
Defense Secretary Chuck Hagel has warned of a possibility of a complete withdrawal from Afghanistan post-2014, in case President Hamid Karzai continues to refuse from signing the security agreement with America.
GULF countries have been urged to speed up plans for a regional security agreement.

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