11 Oct What is a Pledge?
A pledge is a temporary grant of property as collateral for a debt. The debtor puts the collateral for the debt into the possession of the lender who can sell the property if the debtor defaults. Terms like pledge are no longer used in Article 9 of the U.C.C.–the term “security interest” is used.
Nicholas Ortiz, Boston Bankruptcy Attorney
Latest posts by Nicholas Ortiz, Boston Bankruptcy Attorney (see all)
- Bankruptcy and Arrest Warrants - August 23, 2013
- Massachusetts Mortgage 150-Day Right to Cure and Bankruptcy - July 23, 2013
- Unauthorized Practice of Law Gains Attention of U.S. Trustee - June 23, 2013
- What is a Prepackaged Chapter 11 Bankruptcy? - May 23, 2013
- Marital Adjustment Allowed to Set Commitment Period - April 25, 2013