Ucc 9 620 Consent Agreement

Summary

A UCC-9-620 consent agreement is not typically considered a payment instrument but allows a secured party to accept collateral in satisfaction of an obligation. A consensual lien and full foreclosure notification proposal not objected to within 20 days also do not constitute a payment instrument. A private buyer of such agreements could be any entity intending to collect the debt. Under Connecticut law, summary judgment in lieu of a complaint is appropriate when the debt is undisputed, clear-cut, and based on a written instrument for the payment of money only. A lien is not considered such an instrument. Public official bonds issued to a trust as collateral are not typically liquidated with the treasury department. If a mortgage bonding company fails to respond to a bond claim, contact the Connecticut Department of Insurance or consult a local attorney.

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is a UCC-* *-* debtors consent agreement considered a payment instrument for purpose of filing a summary judgment in leiu of a complaint?
Hello Martin Silverstien. A UCC-*-* consent agreement isn't typically considered a payment instrument. It's an agreement that allows a secured party to accept collateral in satisfaction of the obligation. However, laws vary, so you may want to consult with a Connecticut attorney for specifics.
would a consensual lien and a full foreclosure notification proposal not objected to within 20 days constitute a payment instrument?
Hello Martin Silverstien. Generally, a consensual lien and full foreclosure notification proposal not objected to within 20 days would not constitute a payment instrument. They are more related to the enforcement of a debt. However, specific Connecticut laws may apply, so consulting a local attorney may be beneficial.
who would be considered a private buyer of the consensual lien and debtor consent agreement concerning the liquidation of the debt?
Hello Martin Silverstien. A private buyer in this context could be any individual or entity that purchases the consensual lien and debtor consent agreement with the intent to collect on the debt. This often includes debt collection agencies or investment firms, but can be any party agreeing to the terms.
under Connecticut law, when would summary judgment in leiu of a complaint be appropriate for debt enforcement?
Under Connecticut law, a summary judgment in lieu of a complaint may be appropriate for debt enforcement when:
- The debt is undisputed and clear-cut.
- There's a written instrument for the payment of money only.
- The debtor has failed to pay according to the terms of the instrument.
Please consult with a Connecticut attorney for specific advice.
is a lien a written instrument for the payment of money only?
Hello Martin Silverstien. No, a lien is not typically considered a written instrument for the payment of money only. Rather, it's a legal claim or security interest over property until a debt has been paid off. It's more related to securing the debt rather than paying it.
if a public official bond is issued to a trust as collateral, can it be liquidated with the trasury department?
Hello Martin Silverstien. A public official bond is a type of surety bond, typically not liquidated directly with the treasury department. However, the specifics can depend on the terms of the trust and bond agreement. A local Connecticut attorney could provide further guidance.
if the mortgage bonding company fails to respond to a bond claim, what can i do?
Hello Martin Silverstien. If a mortgage bonding company fails to respond to a bond claim in Connecticut, you may:
- Contact the Connecticut Department of Insurance for assistance.
- Consult with a local attorney to potentially pursue legal action.
Please note that situations can vary, so it's recommended to seek specific advice.