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Hi there....What you will want to do is the following: 1) Bill of Sale evidencing the sale; 2) Promissory Note evidencing the amount the buyer will owe you and the payment terms: 3) Security Agreement evidencing the security interest granted you in the RV to secure the promissory note; and 4) UCC-1 to be filed with the Virginia and Florida Secretary's of State which puts the public on notice of the security interest in the RV.
I hope this has given you the guidance you were seeking. I wish you the best of luck!
The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.
Please explain CCU and give me a little more info on the security agreement
The UCC-1 is a standard form....the UCC stands for the Uniform Commerical Code...and it is the form that the Uniform Commerical Code provides is to be filed to effectively qualify as notice to the public that there is a lien on the RV. This prevents the buyer of the RV from selling the RV without telling the prospective buyer that you have a lien on it.
The Security Agreement is an agreement that is used to evidence a lien on the RV which is the equivalent to a Deed of Trust which is used when real property is involved.
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