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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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Gita May knew and communicated to her students that perfectibility as a scholar was all about determination and rigor.
The struggle of an artist to enter the realm of perfectibility is awesome compared to the ease with which the studio technician can change, substitute, alter, or manufacture notes, passages, and sections.
Nonetheless, because Godwin does not completely abandon the language of perfectibility, Political Justice's turn towards skepticism is not complete.
(142) Many interpreters of the Discours have simply assumed, against the letter of Rousseau's text, that perfectibility and liberty are synonymous.
Mme de Stael's historical optimism, that is, her faith in advancing human progress, serves to validate implicitly her own status as a writer, of course--her right to take up the pen as a young woman--but it also fuels her on-going commitment to the cause of education as a vehicle of perfectibility. In her Lettres sur Rousseau, as a 20-year old writer and young mother, Stael expresses both an abstract and a pragmatic interest in education.
Self-extension in the vertical sense is the personality basis for the capacity of transcendence over the material aspects of human nature, with all its inherent finitude, to an infinite perfectibility of the human character.
As Sylvos observes, these new utopias assume a "preparatory function" (23), and the significant growth of euchronias, written or published between 1800 and 1850, embodies an all-encompassing hope in the perfectibility of human nature and in the possible construction of a better and happier future society.
It challenged the media's influence on the creation of identities, called for Lebanese women to think critically about their perception of themselves and move beyond the facade of glamour and perfectibility. According to Gwen Bou Jaoude, cosmetic surgery now constitutes an ordinary part of everyday life for many people and families in Lebanon.
But while the production, which muses on the idea of perfection and perfectibility, boasts music by Leigh Stirling, is inspired by Dury it's not about him.
"Democracy," said liberalism's pre-eminent founding father Herbert Croly, "must stand or fall on a platform of possible human perfectibility." These were the words of a radical, not a reformer--a man who, like Karl Marx and Auguste Comte, saw himself as leading humanity to a higher and more refined stage of civilization.
The core concept in this work is "reasonable consciousness" ([TEXT NOT REPRODUCIBLE IN ASCII]), according to which the task of life is perfectibility and union with the divine through the "greater and greater attainment of what is good by means of submission to reason" (On Life 63).
A central tenet of the Enlightenment was the perfectibility of humanity through the education of reason and the cultivation of virtue or what can generically be called "self-improvement." Fithian was enough of a child of the Enlightenment to take this principle seriously.