Video: Secured Transactions, Including the Rights, Duties and Liabilities of Debtors, Creditors and Guarantors Overview

In this lesson, Nick Palazzolo, CPA, takes a deep dive into the world of secured transactions. He lays the groundwork for understanding the complexities of relationships between debtors, creditors, and guarantors, which are crucial in the context of borrowing and lending. With a nod to how these elements intersect with bankruptcy law, Nick explores the roles and responsibilities each party has in secured transactions. The lesson is rich with practical scenarios that illuminate how property can act as collateral and the implications of failing to meet financial obligations. A strong focus is placed on mastering the creation and perfection of security interests—a topic Nick acknowledges as often challenging—and he reassures that pacing oneself through this intricate material is both normal and acceptable. Expect to be well versed in priority rules, what constitutes a secured transaction, and the critical steps for perfecting security interests by the end of this comprehensive lesson.