Fidelity National Title Group’s UCCPlus Division is the
nation’s leading provider of personal property title
insurance, specializing in major-market transactions across
the United States. The highly experienced underwriters at
UCCPlus are experts at insuring non-real estate transactions
involving mezzanine financing, equity pledges, project
finance/energy loans, revolving/term/working capital loans,
all asset loans, construction loans, and mixed collateral
transactions.
The UCCPlus Insurance Policy eliminates the insured’s risk
relating to the validity, enforceability, attachment,
perfection and priority of its security interest on any
personal property within the scope of Articles 8 and 9 of
the Uniform Commercial Code (UCC). Without proper
attachment, perfection and priority, a lender has no ability
to foreclose on its collateral to satisfy its indebtedness
in the event of a borrower default.
Covering all personal property collateral under Articles 8
and 9 of the Uniform Commercial Code (UCC), a UCCPlus Policy
insures against fraud, forgery, documentation defects,
filing errors, and financing statement inaccuracies. The
policy covers the “gap” period between the last search date
and the date of perfection. The policy also includes the
cost of defense in the event of a challenge to the security
interest being insured.
A UCCPlus Policy also includes a comprehensive review of the
insured lender’s loan documents, searches and filings, as
well as the borrower’s organizational documents. Only
UCCPlus:
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specifically and clearly describes the personal property
collateral being covered by the UCCPlus Policy
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waives the right of subrogation with respect to the
insured’s counsel within the policy
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covers pledges of equity where perfection is being
accomplished by filing a financing statement rather than
an opt-in to Article 8
In select states, coverage for the purchase of an interest
in a limited liability company, limited partnership or
corporation is available.
Just as the lending community relies on real estate title
insurance, you can rely on UCCPlus Insurance to reduce the
risk in your loan policies secured by personal property.
For more information about UCCPlus, visit: