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The first and arguably most important principle is that there is no UCC outside of the United States. The Uniform Commercial Code, and by extension, Article 9, exist only in the U.S. Canada has adopted the PPSA (Personal Property Security Act) province by province, and this act is based on UCC principles.

An Example of a UCC Lien Filing If you secure equipment financing, the lender will file a UCC lien to state that if the debt for the espresso machine is not repaid, the lender has the right to repossess the espresso machine or seize other assets from your business.

Fill in the debtor's name and mailing address. It may be an individual, or it may be in the name of a business or organization. If the loan is in the name of the business, include the business mailing address. There is space for additional debtors. Include them exactly as they appeared on the loan agreement.

All Canadian provinces have adopted the Personal Property Security Act (PPSA) except for Quebec. These statutes regulate the creation and registration of security interests within their jurisdictions. The PPSA is commonly referred to as Canada's version of article 9 of the Uniform Commercial Code of the United States.

The transfer disclosure statement (TDS) evaluates the condition of a property. Every residential seller must complete the TDS document. It will let the buyer know about major defects at the property.

Disclosure Laws for Iowa Home Sales Iowa Code 558A requires sellers to deliver written disclosure statements to a person interested in buying a property before they have made a formal offer or the offer has been accepted.