Secured transactions ii antideficiency legislation a in general the prohibition or limitation on the personal liability of a debtor in a real property security transaction is determined by. Law on secured transactions in both khmer and english version this ini tiative is part of a larger effort of the royal government envisages the development of the legal infrastructure for financial markets as spreading over the next decade beginning with the introduction of key underpinning laws pertaining to commercial activities. The law of secured transactions in the united states covers the creation and enforcement of a security interest usually a secured transaction happens when a person or business borrows money for the purpose of acquiring property including real estate vehicles or business equipment. Secured transactions in the united states are an important part of the law and economy of the country by enabling lenders to take a security interest in collateral that is the assets of debtors the law of secured transactions provides lenders with assurance of legal relief in case of default by the borrowerthe availability of such remedies encourages lenders to lend capital at lower . Current secured transactions law draws a distinction between real estate collateral and personal property collateral in general article 9 of the uniform commercial code applies only to security interests in personal property and fixtures not liens on real property see current 9 1021a and
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