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per·fect·ed /pər-'fek-təd/ adj: completed in accordance with statutory procedure for giving notice and thereby having a status of priority over security interests that are the subject of such procedure at a later date or that are not the subject of such proceduresettling a priority contest between the two perfected security interests
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
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Having completed all necessary legal steps to achieve a result, such as completing and filing the necessary documents to record a security interest. (See: perfect)Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & FinancesCategory: Business Cash Flow Problems & BankruptcyCategory: Business, LLCs & Corporations → Business Tax & DeductionsCategory: Personal Finance & Retirement → Taxes → Tax AuditsCategory: Real Estate & Rental Property → Selling a HouseCategory: Real Estate & Rental Property → Buying a House
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
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USAperfected, Also known as perfection.A UCC concept relating to a security interest in collateral provided by a debtor to secure performance of obligations in favor of a creditor. In order for a creditor to enforce its rights against the debtor and the collateral vis-à-vis third parties, the creditor must have perfected its security interest in the collateral under the UCC. To be perfected, the creditor must satisfy certain requirements set out in the UCC which depend on the type of collateral. For example, filing a UCC-1 in the appropriate filing office of the debtor will typically perfect the creditor's security interest for most types of collateral.For further information, see Practice Note, UCC: Creation, Perfection and Priority of Security Interests (www.practicallaw.com/6-381-0551).Related terms
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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adj. A claim is said to be perfected if all steps required to put a claim right, or in final conformity with statutes, have been taken, and the litigant can proceed to an appellate court.
Webster's New World Law Dictionary. Susan Ellis Wild. 2000.
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adj.having completed all necessary legal steps to achieve a result, such as perfected title to property.See also: perfect
Law dictionary. EdwART. 2013.
