The Pledge Agreement of Personal Property form is a legal document used to secure a debt or obligation by pledging personal property as collateral. This agreement outlines the rights and responsibilities of the pledgee (lender) and pledgor (borrower), detailing the property being pledged, conditions for maintaining the collateral, and procedures for foreclosure in the event of default. It includes provisions for title warranty, insurance responsibilities, and adherence to Article 9 of the Uniform Commercial Code. This form ensures a clear understanding between both parties in personal property-secured transactions.
Paperwork
PLEDGE AGREEMENT OF PERSONAL PROPERTY
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The Pledge Agreement of Personal Property form is a legal document used to secure a debt or obligation by pledging personal property as collateral. This agreement outlines the rights and responsibilities of the pledgee (lender) and pledgor (borrower), detailing the property being pledged, conditions for maintaining the collateral, and procedures for foreclosure in the event of default. It includes provisions for title warranty, insurance responsibilities, and adherence to Article 9 of the Uniform Commercial Code. This form ensures a clear understanding between both parties in personal property-secured transactions.
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