Learn how establishing yourself or your private trust as the Secured Party gives you legal control over property, proceeds, and financial rights. Under UCC § 9-315, a perfected security interest continues in collateral even after it’s sold — and automatically attaches to identifiable proceeds. Whether it’s a foreclosed home, sold vehicle, or reassigned note, your claim survives and shifts to the new form of value. UCC § 9-607 empowers the Secured Party to collect, enforce, and demand payment or possession of those proceeds. This is how you secure standing in equity and law — and why understanding secured party status is essential for true remedy and asset protection.
Under Title 12 U.S.C. § 1813(l)(1), when the purported borrower deposits or surrenders a promissory note, it is considered a cash item. In this context, a financial institution, such as Chase or other entities, are legally obligated to treat the note as a cash equivalent and issue a cash receipt acknowledging the deposit of this asset.
In California, the creation and existence of a debtor and creditor relationship are governed by Law, statutes, and/or case law. It could be the Uniform Commercial Code, United States Code, California Civil Code, or Commercial Code, and depends on the situation, parties, and their respective location(s). These relationships are fundamental to the legal and financial system, impacting contracts, secured transactions, and obligations.