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 ?

The strategies for encoding predication in the past tense are either involve the conjugation of the predicate (obligatory for verbs and optional for non-verbal categories) or alternatively, employment of the copula verb in non-verbal predication.

Parts of speech in non-typical function: (a)symmetrical encoding of non-verbal predicates in Erzya

The form being occurs in the context of the continuous or progressive tense within the passive structure.

Being accused of..

None the least, even in Australia, Canada, England, Ireland, New Zealand, Scotland, the United States and Wales - in all of which English has, for very many long centuries, been both the mother tongue and the commanding means of commerce, education, government, production and supplication to the deity - even there, very few individuals seem to have ever even heard of the word paid in any context other than as the past tense form of the infinitive to pay.

Please pay keen attention: The word 'paid' is not always a verb

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