LandAmerica is pleased to offer UCC insurance to protect commercial loans secured by personal property. This new line of insurance provides protection against ineffective attachment and insures the perfection and priority of security interests for lenders and, conversely, that buyers acquiring assets are obtaining those assets lien-free.
UCC insurance assumes the risk of loss associated with due diligence and errors in the creation, perfection, and priority of a security interest in personal property; whether perfection is by filing, possession, or control. The policy also insures that the related security agreement is duly authorized, executed, and delivered; is a present grant of a security interest; and the grant covers the requisite collateral. At LandAmerica, we offer one policy for lenders and one for buyers. We also offer financing statement preparation and filing.
UCC insurance provides coverage in commercial loan transactions such as:
- Mixed collateral loans – power plants, hospitals, hotels, warehouses
- Mezzanine financing
- Fixtures and equity ownership
- Equipment financing
- Asset-based lending
- Project finance
For more detailed information about our services, please email us or call us at (212) 973-6212.