Cars, Boats, and Security Interests: Certificates of Title and the Uniform Commercial Code
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Although Article 9 has been adopted in much the same form in most of the States, substantial non-uniformity remains for some of the most common forms of collateral-automobiles and boats. This non-uniformity results from the enactment of varying certificate of title laws and the deference that Article 9 pays to certificate of title legislation in section 9-302. Because goods covered by a certificate of title fall outside the perfection scheme of Article 9 (although not outside the priority and default provisions), special problems arise in perfecting security interests in such collateral, particularly in multi-state transactions. Because of this non-uniformity, many certificate of title cases are unique to a particular state when the issue for decision arises under that state's CTA. Some issues, however, are not so localized and this paper concentrates on those issues arising in the reported cases during the last few years that seem to be of general interest for creditors engaged in secured lending transactions.