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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 ?
Providing great quality produce at low prices is clearly something our customers find really helpful, and were expecting our new Perfectly Imperfect cucumbers to prove just as popular as the rest of the range.
Mark Bell, operations director at CBL Drinks, said: "There is currently high demand for flavoured zerosugar spring water and our Perfectly Clear brand has recorded double-digit growth year-on-year.
Following Contract Bottling acquiring the agreement to produce the Perfectly Clear range in January, it is the First time that shrink sleeves have been used on the Perfectly Clear brand, and include seven variants for its 500ml bottles of still and sparkling flavoured water.
In addition, Perfectly Clear can provide HP Indigo customers with the flexibility to incorporate the image correction software in a manner that is conducive to the overall workflow of their specific systems.
HERE'S a thirst-quenching offer you won't be able to resist - a free bottle of Perfectly Clear flavoured water from Morrisons worth 65p.
BRAKES on the Ferrari written off by Cristiano Ronaldo were working perfectly, experts from the car firm said yesterday.
The charity, which has released a new designer range by the Perfectly Pink Company, focuses on the prevention of the secondary spread of the disease and its development of a vaccine to be administered to young women to stop any occurrence of the disease.
Throughout April, local swing sensations Perfectly Frank and Dominic Halpin and the Honey Bees will be providing the musical soundtrack to your dining experience.
Let Us Be Perfectly Clear" is an anthology of Paul Hornschemeier's short stories illustrated in full color and demonstrating his distinctive artistic approach to the graphic novel techniques of story-telling.
An August 2 statement released in the name of the elder Castro read: "The important thing is that in the country everything is going perfectly well, and will continue to do so.
Ismael Leyva Architects will transform the sharp angled lot, located at the intersection of Tillary and Duffield Streets in downtown Brooklyn, into a perfectly geometrical building.
He shares a crash pad with motormouthed conspiracy/speed-freak Jim Barris (a perfectly cast Robert Downey Jr.