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Real Estate Definition - Uniform Commercial Code (UCC)

Uniform Commercial Code (UCC) ? a body of law that codifies and governs commercial transactions such as sales of goods, bank deposits and collections, bulk transfers, warehouse receipts, commercial paper, letters of credit, certain investment securities, and secured transactions. Of primary importance to real estate are the bulk sales rules (Article Six), which cover the sale of the inventory of a business in the course of the sale of that business, and the secured transactions rules (Article Nine) which cover fixtures purchased on credit.



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