US Legal Forms
Notice of Public Sale of Collateral (Consumer Goods) on Default

North Dakota Notice of Public Sale of Collateral (Consumer Goods) on Default

Name: North Dakota Notice of Public Sale of Collateral (Consumer Goods) on Default
Brand: US Legal Forms
Rating: 4.87 (200 reviews)

Category:

Contracts - Buy Sell - Sale of Goods

State:

Multi-State

Control #:

US-0591BG

Format:

Instant download

Description

This form is a notice of public sale of collateral on default. A North Dakota Notice of Public Sale of Collateral (Consumer Goods) on Default is a legal document that informs the public about an upcoming sale of consumer goods to recover outstanding debts in cases of loan defaults or non-payment. This notice is an important step in the repossession process, ensuring transparency and offering an opportunity for interested parties to participate in the sale. Keywords: North Dakota, Notice of Public Sale, Collateral, Consumer Goods, Default, Repossession, Loan, Non-payment. Types of North Dakota Notice of Public Sale of Collateral (Consumer Goods) on Default: 1. Residential Property Sale: This type of sale involves consumer goods collateralizing residential properties, such as furniture, appliances, or vehicles tied to a home loan. The notice specifies the date, time, and place of the sale, along with the description of goods to be auctioned. 2. Vehicle Repossession Sale: This notice is specifically for sales related to automobile loans where the vehicle serves as collateral. It provides relevant details like the make, model, year, and Vehicle Identification Number (VIN) of the repossessed automobile, along with sale particulars. 3. Personal Belongings Sale: This type of notice covers the sale of consumer goods used as collateral for small loans, such as electronics, jewelry, or other personal possessions. It outlines the location of the sale, item descriptions, and any pertinent terms and conditions. 4. Business Equipment Sale: In cases where business loans involve the use of collateralized equipment (e.g., machinery, computers, or inventory), this type of notice is utilized. It includes comprehensive information about the items to be sold, potential bidders, and relevant auction details. Regardless of the type, a North Dakota Notice of Public Sale of Collateral (Consumer Goods) on Default acts as a legal notification to interested parties, providing them with an opportunity to attend the sale and bid on the collateral being auctioned. It's essential for creditors to follow the appropriate legal procedures to ensure compliance with North Dakota laws relevant to repossession and public sales.

A North Dakota Notice of Public Sale of Collateral (Consumer Goods) on Default is a legal document that informs the public about an upcoming sale of consumer goods to recover outstanding debts in cases of loan defaults or non-payment. This notice is an important step in the repossession process, ensuring transparency and offering an opportunity for interested parties to participate in the sale. Keywords: North Dakota, Notice of Public Sale, Collateral, Consumer Goods, Default, Repossession, Loan, Non-payment. Types of North Dakota Notice of Public Sale of Collateral (Consumer Goods) on Default: 1. Residential Property Sale: This type of sale involves consumer goods collateralizing residential properties, such as furniture, appliances, or vehicles tied to a home loan. The notice specifies the date, time, and place of the sale, along with the description of goods to be auctioned. 2. Vehicle Repossession Sale: This notice is specifically for sales related to automobile loans where the vehicle serves as collateral. It provides relevant details like the make, model, year, and Vehicle Identification Number (VIN) of the repossessed automobile, along with sale particulars. 3. Personal Belongings Sale: This type of notice covers the sale of consumer goods used as collateral for small loans, such as electronics, jewelry, or other personal possessions. It outlines the location of the sale, item descriptions, and any pertinent terms and conditions. 4. Business Equipment Sale: In cases where business loans involve the use of collateralized equipment (e.g., machinery, computers, or inventory), this type of notice is utilized. It includes comprehensive information about the items to be sold, potential bidders, and relevant auction details. Regardless of the type, a North Dakota Notice of Public Sale of Collateral (Consumer Goods) on Default acts as a legal notification to interested parties, providing them with an opportunity to attend the sale and bid on the collateral being auctioned. It's essential for creditors to follow the appropriate legal procedures to ensure compliance with North Dakota laws relevant to repossession and public sales.

View Utah Guaranty of Promissory Note by Corporation - Corporate Borrower

View this form

View Vermont Guaranty of Promissory Note by Corporation - Corporate Borrower

View this form

View Virginia Guaranty of Promissory Note by Corporation - Corporate Borrower

View this form

View Washington Guaranty of Promissory Note by Corporation - Corporate Borrower

View this form

View West Virginia Guaranty of Promissory Note by Corporation - Corporate Borrower

View this form

How to fill out North Dakota Notice Of Public Sale Of Collateral (Consumer Goods) On Default?

If you have to comprehensive, obtain, or printing legal file web templates, use US Legal Forms, the greatest assortment of legal forms, that can be found online. Utilize the site`s easy and handy look for to obtain the files you need. Different web templates for enterprise and specific purposes are categorized by categories and suggests, or key phrases. Use US Legal Forms to obtain the North Dakota Notice of Public Sale of Collateral (Consumer Goods) on Default within a number of click throughs.

In case you are presently a US Legal Forms buyer, log in to the accounts and click the Down load switch to get the North Dakota Notice of Public Sale of Collateral (Consumer Goods) on Default. You may also access forms you in the past delivered electronically inside the My Forms tab of your accounts.

If you use US Legal Forms the very first time, refer to the instructions beneath:

Step 1. Ensure you have selected the form for the correct city/region.
Step 2. Use the Review solution to check out the form`s content material. Never neglect to read the information.
Step 3. In case you are unhappy using the kind, take advantage of the Search discipline at the top of the display to discover other versions of the legal kind template.
Step 4. When you have located the form you need, click the Buy now switch. Choose the pricing strategy you choose and put your qualifications to register to have an accounts.
Step 5. Method the transaction. You can utilize your charge card or PayPal accounts to complete the transaction.
Step 6. Pick the file format of the legal kind and obtain it on your gadget.
Step 7. Comprehensive, modify and printing or indication the North Dakota Notice of Public Sale of Collateral (Consumer Goods) on Default.

Every single legal file template you purchase is yours permanently. You have acces to each and every kind you delivered electronically inside your acccount. Go through the My Forms segment and pick a kind to printing or obtain once again.

Be competitive and obtain, and printing the North Dakota Notice of Public Sale of Collateral (Consumer Goods) on Default with US Legal Forms. There are thousands of skilled and state-particular forms you can utilize for your personal enterprise or specific requires.

Form Rating

4.87

Satisfied(200)

Form popularity

FAQ

When the debtor sells collateral, he or she receives proceeds, something that is exchanged for collateral. The secured party automatically has an interest in the proceeds. If 2 parties provide a loan based on the same collateral, the party with the secured interest will have priority on the collateral.

Article 9 is a section under the UCC governing secured transactions including the creation and enforcement of debts. Article 9 spells out the procedure for settling debts, including various types of collateralized loans and bonds.

Under Section 9-611 of the Uniform Commercial Code, a secured creditor is required, in most circumstances, to send a reasonable authenticated notification of disposition. The notice is intended to provide the debtor, and other interested parties, an opportunity to monitor the disposition of the collateral, purchase

A PMSI is created in goods when a seller retains a security interest in the goods sold on credit by a security agreement. A debtor need not sign the financing statement. Attachment must occur in order to make a security interest enforceable against the debtor and against third parties.

Section 9-609 of the Uniform Commercial Code (UCC) permits the secured party to take possession of the collateral on default (unless the agreement specifies otherwise):

Revised Article 9 of the Uniform Commercial Code placed greater responsibility on secured parties to use the correct debtor name when preparing financing statements. RA9 provides that a financing statement is effective only if recorded under the correct name of the debtor.

Article 9 is an article under the Uniform Commercial Code (UCC) that governs secured transactions, or those transactions that pair a debt with the creditor's interest in the secured property.

Section 9-609 of the Uniform Commercial Code (UCC) permits the secured party to take possession of the collateral on default (unless the agreement specifies otherwise):

Collateral Disposition means any sale, transfer or other disposition (whether voluntary or involuntary) to the extent involving assets or other rights or property that constitute Collateral.

More info

By JA Stuckey · 2002 · Cited by 28 ? Consumer Goods .In Chapter 9 the reference to contract for sale in theOther states such as Idaho, Illinois, Mississippi and North Dakota (and ... Provisions delineating the proper notice which secured parties must give regarding the disposition of collateral upon default.21 In a ?consumer-goods.20 pages provisions delineating the proper notice which secured parties must give regarding the disposition of collateral upon default.21 In a ?consumer-goods.By MW Benfield Jr · 1999 · Cited by 33 ? is subject to the consumer rules if the collateral is consumer goods.reasonable notification of the time and place of any public sale or. By NG Formanek · 1982 · Cited by 5 ? provides that a secured party must give personal notice to the default-compliance, or, where the collateral is consumer goods, to an automatic. By foreclosing on its collateral after a debtor defaults (Article 9. Sale).disposition may be handled through a private or public sale (UCC.8 pagesMissing: North ?Dakota by foreclosing on its collateral after a debtor defaults (Article 9. Sale).disposition may be handled through a private or public sale (UCC. By KG Meyer · Cited by 36 ? Originally published in NORTH DAKOTA LAW REVIEWsecurity interest, to pursue the fann products collateral into theor consumer goods.... " /d.44 pages by KG Meyer · Cited by 36 ? Originally published in NORTH DAKOTA LAW REVIEWsecurity interest, to pursue the fann products collateral into theor consumer goods.... " /d. Acknowledgment Letter ? A letter is sent with each filed document stating howbailee and may sell the goods at public auction to execute on the lien. Creditor's failure to give notice of the sale of a debtor's collateralexcept in the case of consumer goods to any other person who has a security. By EA Welle · 2001 · Cited by 9 ? collateral, see John P. Dolan, Security Interests in Letter-of-Credit Rights,consumer goods or a consumer's security account, commodity account, ... 31-Jul-2021 ? However, a recourse debt gives the lender the recourse to pursue additional assets of the borrower beyond the value of the collateral if it is ...

North Dakota Notice of Public Sale of Collateral (Consumer Goods) on Default

Description

Related forms

How to fill out North Dakota Notice Of Public Sale Of Collateral (Consumer Goods) On Default?

Show more info

Form Rating

Form popularity

FAQ

When the debtor sells collateral they receive?

What is an Article 9 transaction?

What is a notice of disposition of collateral?

What term is used to describe the creation of a security interest that is enforceable against the debtor?

What section of the UCC addresses the debtor's rights to redeem collateral after repossession?

What is RA 9 UCC?

What is an Article 9 UCC sale?

What section of the UCC addresses the debtors rights to redeem collateral after repossession?

What does Article 9 of the UCC cover?

What is collateral disposition?

More info

Trusted and secure by over 3 million people of the world’s leading companies