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quot;FOR SOCRATEASER"I own a direct...
quot;FOR SOCRATEASER"I own a direct sales company in Texas , we sell consumer goods , specifically water filters (Point of use and whole house water filters) We also finance our own contractsWe will start filing a fixture lien (NOT a mechanical lien ) whenever the customer becomes delinquent in their payments in order to cloud the customer's title in their homestead property .Our Retail Installment contract's language has the correct wording that will allow us to file the UCC-1 FORM (Security interest: To protect us , you give us a purchase money security interest created under the UCC or other applicable law in the property sold and described under description of purchase)What I need from you is the following:1. The exact by law code that details the EXACT TIME FRAME that my company has to file the fixture lien once we make the sale?2. The exact by law code that details What are the requirements that the fixture filing must meet?3. The exact by law code that details What are the requirements that the products that we are selling to the customers must must meet in order to qualified them as an item for the fixture lien?4. If the retail sales contract is in the name of the wife, the products were installed on that property , but the property belongs to the husband and the husband did no sign the contract , can my do the UCC1 Filing anyways since the wife can create liability to the husband and our products are in his house?5. Please confirm if the following statemet is correct : Having the UCC-1 filed—fixture or not—gives my company some protection from the customer filing for bankruptcy. In a bankruptcy proceeding, “secured” debts (like those established by the UCC-1) are prioritized over unsecured debts (i.e. credit card debts) in determining who gets paid from what assets are available.
Submitted: 8 months ago.Category: Business Law
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11/13/2017
Business Lawyer: socrateaser, Attorney replied 8 months ago
socrateaser
socrateaser, Attorney
Category: Business Law
Satisfied Customers: 40,078
Experience: Retired
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Hello again...answers by the numbers:

1. Tex. UCC Section 9.334(d)(3).

2. Same as above.

3. Tex. UCC Section 9.201(40)-(41).

4. The presumption is that separate property held in the name of one spouse is not subject to the management or control of the other spouse. Tex. Family Code Sections 3.101, 3.104. So, the issue becomes very ambiguous, because while the creditor (you) may have security rights in the fixtures, you would need a court to grant you an order to obtain their removal from the husband's separate real property. In sum, I think you can get the fixtures, but doing so could require costly litigation.

5. Yes. See, e.g., In re Stanton, 254 B.R. 357 (Bankr. E.D. Tex. 2000) (perfected security interest may be obtained by means of UCC-1).

I hope I've answered your question. Please let me know if you require further clarification. And, please provide a positive feedback rating for my answer (click 3, 4 or 5 stars) -- otherwise, Justanswer retains your entire payment, and I receive nothing for my efforts in your behalf. Note: If you cannot find the rating button on your webpage, please just type in your rating in a response to this note, and customer service will apply the rating for you.

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Business Lawyer: socrateaser, Attorney replied 8 months ago

Errata: Section 9.334 applies only to crops. Please disregard.

1. There is no time to file other than as agreed upon between the parties to the original purchase contract. Tex. UCC Sec. 9.201(a).

2. Tex. UCC Sec. 9.203.

My apologies.

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Customer reply replied 8 months ago
Thank you for your reply ,In Question 1, I specifically asked the following:
"The exact by law code that details the EXACT TIME FRAME that my company has to file the fixture lien once we make the sale?"
Your answer: "Sec. 9.201. GENERAL EFFECTIVENESS OF SECURITY AGREEMENT. (a) Except as otherwise provided by this title, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors." The UCC code that you provided does not detail the exact time frame.
Part of the code reads "a security agreement is effective according to its terms between the parties" The Only language/terms that my contract contains reads as follows in reference to us been able to cloud the customers lien in the following:
Security interest: To protect us , you give us a purchase money security interest created under the UCC or other applicable law in the property sold and described under description of purchase)
Kindly provide the exact time frame that my company has to file the fixture lien once we make the sale.2. The exact by law code that details What are the requirements that the fixture filing must meet?
Your replied : ex. UCC Sec. 9.203. (This sec is not related to the requirements)
Sec. 2.203. SEALS INOPERATIVE. The affixing of a seal to a writing evidencing a contract for sale or an offer to buy or sell goods does not constitute the writing a sealed instrument and the law with respect to sealed instruments does not apply to such a contract or offer.3. The exact by law code that details What are the requirements that the products that we are selling to the customers must must meet in order to qualified them as an item for the fixture lien?
You replied : "Tex. UCC Section 9.201(40)-(41)"
This section reads the following and does not contain the correct law code to my question:
Sec. 9.201. GENERAL EFFECTIVENESS OF SECURITY AGREEMENT. (a) Except as otherwise provided by this title, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors.
(b) A transaction subject to this chapter is subject to any applicable rule of law that establishes a different rule for consumers and to:
(1) Title 4, Finance Code; and
(2) Subchapter E, Chapter 17.
(c) In case of conflict between this chapter and a rule of law, statute, or regulation described in Subsection (b), the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in Subsection (b) has only the effect the statute or regulation specifies.
(d) This chapter does not:
(1) validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in Subsection (b); or
(2) extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it.Thank you
Business Lawyer: socrateaser, Attorney replied 8 months ago

There is no time frame other than that which is expressed in the contract with the buyer. If the contract is silent, then you can file whenever you wish -- today, tomorrow, six months or 100 years from now.

Note: I cannot prove a negative. You are seeking something that does not exist. I wish that it did, because then I could provide to you and you would be satisfied. But, it does not, so all I can provide is the general rule. Which is what I have done.

I hope I've answered your question. Please let me know if you require further clarification. And, please provide a positive feedback rating for my answer (click 3, 4 or 5 stars) -- otherwise, Justanswer retains your entire payment, and I receive nothing for my efforts in your behalf. Note: If you cannot find the rating button on your webpage, please just type in your rating in a response to this note, and customer service will apply the rating for you.

Thanks again for using Justanswer!

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Customer reply replied 8 months ago
Thank you for our reply , based on your latest reply I am clear now on question number 1. (Done)However, the other 2 questions remained unanswered:
2. The exact by law code that details What are the requirements that the fixture filing must meet?
Your replied : ex. UCC Sec. 9.203. (This sec is not related to the requirements)
Sec. 2.203. SEALS INOPERATIVE. The affixing of a seal to a writing evidencing a contract for sale or an offer to buy or sell goods does not constitute the writing a sealed instrument and the law with respect to sealed instruments does not apply to such a contract or offer.3. The exact by law code that details What are the requirements that the products that we are selling to the customers must must meet in order to qualified them as an item for the fixture lien?
You replied : "Tex. UCC Section 9.201(40)-(41)"
This section reads the following and does not contain the correct law code to my question:
Sec. 9.201. GENERAL EFFECTIVENESS OF SECURITY AGREEMENT. (a) Except as otherwise provided by this title, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors.
(b) A transaction subject to this chapter is subject to any applicable rule of law that establishes a different rule for consumers and to:
(1) Title 4, Finance Code; and
(2) Subchapter E, Chapter 17.
(c) In case of conflict between this chapter and a rule of law, statute, or regulation described in Subsection (b), the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in Subsection (b) has only the effect the statute or regulation specifies.
(d) This chapter does not:
(1) validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in Subsection (b); or
(2) extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it.
Thank you again for your time
Business Lawyer: socrateaser, Attorney replied 8 months ago

I'm going to reopen the question for others to assist. The website simply does not provide sufficient compensation for the amount of time required to service your request.

Thanks for using Justanswer!

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Customer reply replied 8 months ago
ok , I am sorry the website does not provide sufficient compensation for the amount of time required.... my questions were very specific.
I respect your decision and wish you good luck. Thank you
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