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Bro Polite What is Status Correction? The people`s chance to Call in and ask

  • Broadcast in Culture



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1. Can a debtor own property? A. A debtor can only conditionally own property because according to the law that governs secured transactions (UCC 9-105(d) a debtor is one who is obligated on an account, chattel property, or general intangible, even if he owns or has rights in the collateral. 2. Can the debtor and the Organic living soul be the same person? A. Yes, also in UCC 9-105(d) it states: Where the debtor and the owner of the collateral are not the “same person”, the term "debtor" means the owner of the collateral in any provision of the Article dealing with the collateral, the obligor in any provision dealing with the obligation, and may include both where the context so requires;