Archives: Glossary

Under UCC § 1-201(b)(21)(A), the person in possession of a negotiable instrument payable to bearer or to that identified person.

The sequence of recorded transfers of an interest in property from earlier holders to the current one.

Pooling loans or receivables and selling interests in the pool to investors, who are paid from the pooled assets.

The party who transfers rights in an assignment.

The party who receives rights in an assignment.

A contract governing the transfer of loans into a securitization trust and the duties of the trustee and servicer.

A holder who took a negotiable instrument for value, in good faith and without notice of listed problems, and so takes free of many defenses.

Under federal securities law, a broad category of investments including notes, stocks, bonds, evidences of indebtedness and investment contracts.

Under UCC § 3-301, the holder of an instrument, a nonholder in possession with the rights of a holder, or a person entitled to enforce a lost or similar instrument.

Under UCC Article 9, the person obligated on an account or other right to payment.