2017 Arizona Revised Statutes
Title 47 - Uniform Commercial Code
§ 47-9617 Rights of transferee of collateral

Universal Citation: AZ Rev Stat § 47-9617 (2017)

47-9617. Rights of transferee of collateral

A. A secured party's disposition of collateral after default:

1. Transfers to a transferee for value all of the debtor's rights in the collateral;

2. Discharges the security interest under which the disposition is made; and

3. Discharges any subordinate security interest or other subordinate lien.

B. A transferee that acts in good faith takes free of the rights and interests described in subsection A, even if the secured party fails to comply with this article or the requirements of any judicial proceeding.

C. If a transferee does not take free of the rights and interests described in subsection A, the transferee takes the collateral subject to:

1. The debtor's rights in the collateral;

2. The security interest or agricultural lien under which the disposition is made; and

3. Any other security interest or other lien.

Disclaimer: These codes may not be the most recent version. Arizona may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.