ABSTRACT
A security interest in property is an interest that allows the holder of that interest to either take the property or cause the property to be sold in the event that the owner of the property fails to pay a debt. The purpose of this chapter is to acquaint the reader with some of the issues and questions that anyone involved in these transactions should ask his or her attorney. Security interests in both real and personal property are covered. The farm products rule as an exception to the UCC is discussed. Statutory trusts under the Perishable Agricultural Commodities Act (PACA) and the Packers and Stockyards Act (PSA) are discussed.
