reglab/housing_qa huggingface dataset:
NJ Rev Stat § 12A:9-207 (2021)
2021 New Jersey Revised Statutes|Title 12A - Commercial Transactions|Section 12A:9-207 - Rights and duties of secured party having possession or control of collateral.

12A:9-207 Rights and duties of secured party having possession or control of collateral.  12A:9-207. Rights and Duties of Secured Party Having Possession or Control of Collateral. (a) Duty of care when secured party in possession. Except as otherwise provided in subsection (d), a secured party shall use reasonable care in the custody and preservation of collateral in the secured party's possession. In the case of chattel paper or an instrument, reasonable care includes taking necessary steps to preserve rights against prior parties unless otherwise agreed. (b) Expenses, risks, duties, and rights when secured party in possession. Except as otherwise provided in subsection (d), if a secured party has possession of collateral: (1) reasonable expenses, including the cost of insurance and payment of taxes or other charges, incurred in the custody, preservation, use or operation of the collateral are chargeable to the debtor and are secured by the collateral; (2) the risk of accidental loss or damage is on the debtor to the extent of a deficiency in any effective insurance coverage; (3) the secured party shall keep the collateral identifiable, but fungible collateral may be commingled; and (4) the secured party may use or operate the collateral: (A) for the purpose of preserving the collateral or its value; (B) as permitted by an order of a court having competent jurisdiction; or (C) except in the case of consumer goods, in the manner and to the extent agreed by the debtor. (c) Duties and rights when secured party in possession or control. Except as otherwise provided in subsection (d), a secured party having possession of collateral or control of collateral under 12A:7-106, 12A:9-104, 12A:9-105, 12A:9-106, or 12A:9-107: (1) may hold as additional security any proceeds, except money or funds, received from the collateral; (2) shall apply money or funds received from the collateral to reduce the secured obligation, unless remitted to the debtor; and (3) may create a security interest in the collateral. (d) Buyer of certain rights to payment. If the secured party is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor: (1) subsection (a) does not apply unless the secured party is entitled under an agreement: (A) to charge back uncollected collateral; or (B) otherwise to full or limited recourse against the debtor or a secondary obligor based on the nonpayment or other default of an account debtor or other obligor on the collateral; and (2) subsections (b) and (c) do not apply.  L.2001, c.117, s.1; amended 2001, c.386, ss.13, 14; 2013, c.65, s.6.
NJ Rev Stat § 12A:9-209 (2021)
2021 New Jersey Revised Statutes|Title 12A - Commercial Transactions|Section 12A:9-209 - Duties of secured party if account debtor has been notified of assignment.

12A:9-209 Duties of secured party if account debtor has been notified of assignment.  12A:9-209. Duties of Secured Party If Account Debtor Has Been Notified of Assignment. (a) Applicability of section. Except as otherwise provided in subsection (c), this section applies if: (1) there is no outstanding secured obligation; and (2) the secured party is not committed to make advances, incur obligations, or otherwise give value. (b) Duties of secured party after receiving demand from debtor. Within 10 days after receiving an authenticated demand by the debtor, a secured party shall send to an account debtor that has received notification of an assignment to the secured party as assignee under 12A:9-406(a) an authenticated record that releases the account debtor from any further obligation to the secured party. (c) Inapplicability to sales. This section does not apply to an assignment constituting the sale of an account, chattel paper, or payment intangible. L.2001, c.117, s.1; (old 210) amended 2001, c.386, ss.15,16.
NJ Rev Stat § 12A:9-301 (2021)
2021 New Jersey Revised Statutes|Title 12A - Commercial Transactions|Section 12A:9-301 - Law governing perfection and priority of security interests.

12A:9-301 Law governing perfection and priority of security interests.  12A:9-301. Law Governing Perfection and Priority of Security Interests. Except as otherwise provided in sections 12A:9-303 through 12A:9-306, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral: (1) Except as otherwise provided in this section, while a debtor is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral. (2) While collateral is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a possessory security interest in that collateral. (3) Except as otherwise provided in paragraph (4), while tangible negotiable documents, goods, instruments, money, or tangible chattel paper is located in a jurisdiction, the local law of that jurisdiction governs: (A) perfection of a security interest in the goods by filing a fixture filing; (B) perfection of a security interest in timber to be cut; and (C) the effect of perfection or nonperfection and the priority of a nonpossessory security interest in the collateral. (4) The local law of the jurisdiction in which the wellhead or minehead is located governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in as-extracted collateral. (5) Notwithstanding paragraph (1), the local law of this State shall govern the perfection, the effect of perfection or nonperfection, and the priority of a security interest in bondable transition property. L.2001, c.117, s.1; amended 2001, c.386, s.18; 2013, c.65, s.8.
NJ Rev Stat § 12A:9-302 (2021)
2021 New Jersey Revised Statutes|Title 12A - Commercial Transactions|Section 12A:9-302 - Law governing perfection and priority of agricultural liens

12A:9-302. Law governing perfection and priority of agricultural liens  12A:9-302. Law Governing Perfection and Priority of Agricultural Liens. While farm products are located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of an agricultural lien on the farm products. L.2001, c.117, s.1; amended L.2001, c.117, s.1.
NJ Rev Stat § 12A:9-303 (2021)
2021 New Jersey Revised Statutes|Title 12A - Commercial Transactions|Section 12A:9-303 - Law governing perfection and priority of security interests in goods covered by a certificate of title.

12A:9-303 Law governing perfection and priority of security interests in goods covered by a certificate of title.  12A:9-303. Law Governing Perfection and Priority of Security Interests in Goods Covered by a Certificate of Title. (a) Applicability of section. This section applies to goods covered by a certificate of title, even if there is no other relationship between the jurisdiction under whose certificate of title the goods are covered and the goods or the debtor. (b) When goods covered by certificate of title. Goods become covered by a certificate of title when a valid application for the certificate of title and the applicable fee are delivered to the appropriate authority. Goods cease to be covered by a certificate of title at the earlier of the time the certificate of title ceases to be effective under the law of the issuing jurisdiction or the time the goods become covered subsequently by a certificate of title issued by another jurisdiction. (c) Applicable law. The local law of the jurisdiction under whose certificate of title the goods are covered governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in goods covered by a certificate of title from the time the goods become covered by the certificate of title until the goods cease to be covered by the certificate of title. L.2001, c.117, s.1; amended 2001, c.386, s.19.
NJ Rev Stat § 12A:9-304 (2021)
2021 New Jersey Revised Statutes|Title 12A - Commercial Transactions|Section 12A:9-304 - Law governing perfection and priority of security interests in deposit accounts.

12A:9-304 Law governing perfection and priority of security interests in deposit accounts.  12A:9-304. Law Governing Perfection and Priority of Security Interests in Deposit Accounts. (a) Law of bank's jurisdiction governs. The local law of a bank's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a deposit account maintained with that bank. (b) Bank's jurisdiction. The following rules determine a bank's jurisdiction for purposes of this part: (1) If an agreement between the bank and its customer governing the deposit account expressly provides that a particular jurisdiction is the bank's jurisdiction for purposes of this part, this chapter, or the Uniform Commercial Code, that jurisdiction is the bank's jurisdiction. (2) If paragraph (1) does not apply and an agreement between the bank and its customer governing the deposit account expressly provides that the agreement is governed by the law of a particular jurisdiction, that jurisdiction is the bank's jurisdiction. (3) If neither paragraph (1) nor paragraph (2) applies and an agreement between the bank and its customer governing the deposit account expressly provides that the deposit account is maintained at an office in a particular jurisdiction, that jurisdiction is the bank's jurisdiction. (4) If none of the preceding paragraphs applies, the bank's jurisdiction is the jurisdiction in which the office identified in an account statement as the office serving the customer's account is located. (5) If none of the preceding paragraphs applies, the bank's jurisdiction is the jurisdiction in which the chief executive office of the bank is located. L.2001, c.117, s.1; amended 2001, c.386, s.20.
NJ Rev Stat § 12A:9-306 (2021)
2021 New Jersey Revised Statutes|Title 12A - Commercial Transactions|Section 12A:9-306 - Law governing perfection and priority of security interests in letter-of-credit rights.

12A:9-306 Law governing perfection and priority of security interests in letter-of-credit rights.  12A:9-306. Law Governing Perfection and Priority of Security Interests in Letter-of-Credit Rights. (a) Governing law: issuer's or nominated person's jurisdiction. Subject to subsection (c), the local law of the issuer's jurisdiction or a nominated person's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a letter-of-credit right if the issuer's jurisdiction or nominated person's jurisdiction is a state. (b) Issuer's or nominated person's jurisdiction. For purposes of this part, an issuer's jurisdiction or nominated person's jurisdiction is the jurisdiction whose law governs the liability of the issuer or nominated person with respect to the letter-of-credit right as provided in 12A:5-116. (c) When section not applicable. This section does not apply to a security interest that is perfected only under 12A:9-308 (d). L.2001, c.117, s.1; amended 2001, c.386, s.22.
NJ Rev Stat § 12A:9-308 (2021)
2021 New Jersey Revised Statutes|Title 12A - Commercial Transactions|Section 12A:9-308 - When security interest or agricultural lien is perfected; continuity of perfection.

12A:9-308 When security interest or agricultural lien is perfected; continuity of perfection.  12A:9-308. When Security Interest or Agricultural Lien Is Perfected; Continuity of Perfection. (a) Perfection of security interest. Except as otherwise provided in this section and 12A:9-309, a security interest is perfected if it has attached and all of the applicable requirements for perfection in 12A:9-310 through 12A:9-316 have been satisfied. A security interest is perfected when it attaches if the applicable requirements are satisfied before the security interest attaches. (b) Perfection of agricultural lien. An agricultural lien is perfected if it has become effective and all of the applicable requirements for perfection in 12A:9-310 have been satisfied. An agricultural lien is perfected when it becomes effective if the applicable requirements are satisfied before the agricultural lien becomes effective. (c) Continuous perfection; perfection by different methods. A security interest or agricultural lien is perfected continuously if it is originally perfected by one method under this chapter and is later perfected by another method under this chapter, without an intermediate period when it was unperfected. (d) Supporting obligation. Perfection of a security interest in collateral also perfects a security interest in a supporting obligation for the collateral. (e) Lien securing right to payment. Perfection of a security interest in a right to payment or performance also perfects a security interest in a security interest, mortgage, or other lien on personal or real property securing the right. (f) Security entitlement carried in securities account. Perfection of a security interest in a securities account also perfects a security interest in the security entitlements carried in the securities account. (g) Commodity contract carried in commodity account. Perfection of a security interest in a commodity account also perfects a security interest in the commodity contracts carried in the commodity account. L.2001, c.117, s.1; amended 2001, c.386, s.24.
NJ Rev Stat § 12A:9-309 (2021)
2021 New Jersey Revised Statutes|Title 12A - Commercial Transactions|Section 12A:9-309 - Security interest perfected upon attachment.

12A:9-309 Security interest perfected upon attachment.  12A:9-309. Security Interest Perfected upon Attachment. The following security interests are perfected when they attach: (1) a purchase-money security interest in consumer goods, except as otherwise provided in 12A:9-311 (b) with respect to consumer goods that are subject to a statute or treaty described in 12A:9-311(a); (2) an assignment of accounts or payment intangibles which does not by itself or in conjunction with other assignments to the same assignee transfer a significant part of the assignor's outstanding accounts or payment intangibles; (3) a sale of a payment intangible; (4) a sale of a promissory note; (5) a security interest created by the assignment of a health-care-insurance receivable to the provider of the health-care goods or services; (6) a security interest arising under 12A:2-401, 12A:2-505, 12A:2-711(3), 12A:2A-508(5), until the debtor obtains possession of the collateral; (7) security interest of a collecting bank arising under 12A:4-210; (8) a security interest of an issuer or nominated person arising under 12A:5-118; (9) a security interest arising in the delivery of a financial asset under 12A:9-206 (c); (10) a security interest in investment property created by a broker or securities intermediary; (11) a security interest in a commodity contract or a commodity account created by a commodity intermediary; (12) An assignment for the benefit of all creditors of the transferor and subsequent transfers by the assignee thereunder; and (13) A security interest created by an assignment of a beneficial interest in a decedent's estate. L.2001, c.117, s.1; amended 2001, c.386, s.25.
NJ Rev Stat § 12A:9-310 (2021)
2021 New Jersey Revised Statutes|Title 12A - Commercial Transactions|Section 12A:9-310 - When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply.

12A:9-310 When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply.  12A:9-310. When Filing Required to Perfect Security Interest or Agricultural Lien; Security Interests and Agricultural Liens to Which Filing Provisions Do Not Apply. (a) General rule: perfection by filing. Except as otherwise provided in subsection (b) and 12A:9-312 (b), a financing statement must be filed to perfect all security interests and agricultural liens. (b) Exceptions: filing not necessary. The filing of a financing statement is not necessary to perfect a security interest: (1) that is perfected under 12A:9-308(d), (e), (f) or (g); (2) that is perfected under 12A:9-309 when it attaches; (3) in property subject to a statute, regulation, or treaty described in 12A:9-311(a); (4) in goods in possession of a bailee which is perfected under 12A:9-312(d)(1) or (2); (5) in certificated securities, documents, goods, or instruments which is perfected without filing, control, or possession under 12A:9-312(e), (f) or (g); (6) in collateral in the secured party's possession under 12A:9-313; (7) in a certificated security which is perfected by delivery of the security certificate to the secured party under 12A:9-313; (8) in deposit accounts, electronic chattel paper, electronic documents, investment property, or letter-of-credit rights which is perfected by control under 12A:9-314; (9) in proceeds which is perfected under 12A:9-315; or (10) that is perfected under 12A:9-316. (c) Assignment of perfected security interest. If a secured party assigns a perfected security interest or agricultural lien, a filing under this chapter is not required to continue the perfected status of the security interest against creditors of and transferees from the original debtor. L.2001, c.117, s.1; amended 2001, c.386, s.26; 2013, c.65, s.10.
NJ Rev Stat § 12A:9-311 (2021)
2021 New Jersey Revised Statutes|Title 12A - Commercial Transactions|Section 12A:9-311 - Perfection of security interests in property subject to certain statutes, regulations, and treaties.

12A:9-311 Perfection of security interests in property subject to certain statutes, regulations, and treaties.  12A:9-311. Perfection of Security Interests in Property Subject to Certain Statutes, Regulations, and Treaties. (a) Security interest subject to other law. Except as otherwise provided in subsection (d), the filing of a financing statement is not necessary or effective to perfect a security interest in property subject to: (1) a statute, regulation, or treaty of the United States whose requirements for a security interest's obtaining priority over the rights of a lien creditor with respect to the property preempt 12A:9-310(a); (2) the "motor vehicle certificate of ownership law," R.S.39:10-1 et seq. and the "Boat Ownership Certificate Act," P.L.1984, c.152 (C.12:7A-1 et seq.) or successor statutes or law or (3) a statute of another jurisdiction which provides for a security interest to be indicated on a certificate of title as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the property. (b) Compliance with other law. Compliance with the requirements of a statute, regulation, or treaty described in subsection (a) for obtaining priority over the rights of a lien creditor is equivalent to the filing of a financing statement under this chapter. Except as otherwise provided in subsection (d), 12A:9-313 and 12A:9-316(d) and (e) for goods covered by a certificate of title, a security interest in property subject to a statute, regulation, or treaty described in subsection (a) may be perfected only by compliance with those requirements, and a security interest so perfected remains perfected notwithstanding a change in the use or transfer of possession of the collateral. (c) Duration and renewal of perfection. Except as otherwise provided in subsection (d) and 12A:9-316(d) and (e), duration and renewal of perfection of a security interest perfected by compliance with the requirements prescribed by a statute, regulation, or treaty described in subsection (a) are governed by the statute, regulation, or treaty. In other respects, the security interest is subject to this chapter. (d) Inapplicability to certain inventory. During any period in which collateral subject to a statute specified in subsection (a) (2) is inventory held for sale or lease by a person or leased by that person as lessor and that person is in the business of selling goods of that kind, this section does not apply to a security interest in that collateral created by that person. L.2001, c.117, s.1; amended 2001, c.386, s.27; 2013, c.65, s.11.
NJ Rev Stat § 12A:9-314 (2021)
2021 New Jersey Revised Statutes|Title 12A - Commercial Transactions|Section 12A:9-314 - Perfection by control.

12A:9-314 Perfection by control.  12A:9-314. Perfection by Control. (a) Perfection by control. A security interest in investment property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic documents may be perfected by control of the collateral under 12A:7-106, 12A:9-104, 12A:9-105, 12A:9-106 or 12A:9-107. (b) Specified collateral: time of perfection by control; continuation of perfection. A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights, or electronic documents is perfected by control under 12A:7-106, 12A:9-104, 12A:9-105 or 12A:9-107 when the secured party obtains control and remains perfected by control only while the secured party retains control. (c) Investment property: time of perfection by control; continuation of perfection. A security interest in investment property is perfected by control under 12A:9-106 from the time the secured party obtains control and remains perfected by control until: (1) the secured party does not have control; and (2) one of the following occurs: (A) if the collateral is a certificated security, the debtor has or acquires possession of the security certificate; (B) if the collateral is an uncertificated security, the issuer has registered or registers the debtor as the registered owner; or (C) if the collateral is a security entitlement, the debtor is or becomes the entitlement holder. L.2001, c.117, s.1; amended 2001, c.386, s.30, 2013, c.65, s.14.