Perfecting the Security Interest
A secured party should perfect their security interest, after attachment, in order to fully ensure its legal rights against a third party claiming that they have an interest in the same collateral. By perfecting a security interest, a secured party gains priority over subsequent creditors claiming the same collateral.
What is a Security Interest?
A security interest occurs when a debtor, which can be a person or business, borrows money from a creditor or more specifically a secured party and they agree to execute a security agreement. In the event the debtor defaults by not paying back the loan or by violating a provision in the agreement, the secured party can seize the collateral and may sell it to satisfy the debt.
Why is an LLC Important?
Today, many businesses are forming as a Limited Liability Company (LLC) and are finding that an LLC offers the “best of both worlds” of corporate forms.
What is an Independent Contractor?
Businesses can choose to hire a person as an independent contractor or as an employee. Some employers rather hire independent contractors because of the reduced costs in payroll and taxes. However, an employer must be certain that the worker that is classifying as an independent contractor is truly an independent contractor.
Are You Ready to Retire?
Are you on the right path to retirement? A retirement plan is not something to take lightly or put off to a later date.
Foreign Reporting for US Taxpayers 101
While it is not illegal to earn income abroad or to hold an offshore account, failure to disclose income to the Internal Revenue Service is illegal.
What is “The Uniform Transfer on Death Security Registration Act”?
Beneficiary designations on your financial accounts can provide a quick alternative to traditional estate planning strategies by making sure your accounts are not subject to probate, thus preserving your wealth and preventing unnecessary court expenses and proceedings.
Are Employees Legally Obligated to Take a Lunch Break?
Lunch Breaks: Are you in Compliance with Federal and State Law?
Are you Liable for the Documentary Stamp Tax?
Who Pays the Documentary Stamp Tax? In Florida, people who transfer real estate in exchange for value must pay a transfer
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