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What does it mean to perfect a security interest?

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2005-11-17 02:37:22
2005-11-17 02:37:22

Perfecting a security interest means that you have taken all the necessary legal steps and filed all the required papers to establish a lien against someone's property. If you borrow money against your house and sign a promissory note, the lender's security interest is perfected when the mortage or deed of trust is recorded.

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