We will track here amendments to this resource that reflect changes in law and practice.
Accessing Practical Law Finance's security and quasi security resources
This note acts as a guide to Practical Law Finance's resources on the different types of security (mortgages, charges, pledges and liens) and quasi security (such as retention of title, factoring and finance leasing). It highlights resources on how to take security over various assets, how to perfect security, the priority of security, how to release security and how to enforce security.
As well as links to Practical Law Finance's security and quasi security standard documents, drafting notes, practice notes and checklists, this note links to resources relevant to security from other Practical Law services such as Practical Law Cross-border and Practical Law Environment.
This note acts as a guide to Practical Law Finance's resources on security and quasi security arrangements such as mortgages ( www.practicallaw.com/8-107-6863) , charges ( www.practicallaw.com/2-107-5890) , factoring ( www.practicallaw.com/2-107-5734) and negative pledges ( www.practicallaw.com/2-107-6875) .
For a quick guide to taking security and some of the issues that need to be considered when taking security, see Quick guide, Taking security ( www.practicallaw.com/5-541-6505) .
For an outline of the options available to lenders, and potential issues that need to be considered, when taking security, see Practice note, Taking security ( www.practicallaw.com/2-107-4032) .
For a checklist of key issues for lawyers advising a lender taking security from an English company, see Checklist, Taking security from an English company ( www.practicallaw.com/0-502-2898) .
For a note looking at taking security from a general partnership, a limited partnership or a limited liability partnership, see Practice note, Taking security from partnerships ( www.practicallaw.com/0-504-6352) .
For a note on issues that commonly arise when taking security from a charity, see Practice note, Secured and unsecured lending to a charity ( www.practicallaw.com/8-566-9445) .
Types of security
For a note on mortgages generally, see Practice note, Taking security: Mortgage ( www.practicallaw.com/2-107-4032) .
For a quick guide to taking security over assets by way of a mortgage, see Quick guide, Mortgages ( www.practicallaw.com/4-206-0189) .
For a note on charges generally, see Practice note, Taking security: Charge ( www.practicallaw.com/2-107-4032) .
For a quick guide to taking security over assets by way of a charge, see Quick guide, Charges ( www.practicallaw.com/0-206-0191) .
For information on taking a fixed charge, see Practice note, Taking security: Fixed charge ( www.practicallaw.com/2-107-4032) .
For information on taking a floating charge, see Practice note, Taking security: Floating charge ( www.practicallaw.com/2-107-4032) .
For a note on pledges ( www.practicallaw.com/2-107-7016) generally, see Practice note, Taking security: Pledge ( www.practicallaw.com/2-107-4032) .
For a quick guide to taking security over assets by way of pledge, see Quick guide, Pledges ( www.practicallaw.com/6-206-0188) .
For a note on liens ( www.practicallaw.com/1-107-6319) generally, see Practice note, Taking security: Lien ( www.practicallaw.com/2-107-4032) .
For a quick guide to the key legal issues involved when security over assets arises by way of lien, see Quick guide, Liens ( www.practicallaw.com/2-206-0190) .
Security over particular assets
For information on the various ways of taking security or quasi security over cash deposits, see Practice note, Taking security over cash deposits ( www.practicallaw.com/8-201-9254) .
For information on using goods or chattels ( www.practicallaw.com/5-382-5591) owned by companies to provide security for financing, see Practice note, Taking security over chattels ( www.practicallaw.com/4-200-4396) .
Choses in action
For information on taking a security interest over choses in action ( www.practicallaw.com/2-107-5828) (assets which can only be claimed or enforced by action at law or equity, such as a debt or a benefit under a contract, as distinct from taking physical possession of the asset), see Practice note, Taking security over choses in action ( www.practicallaw.com/4-201-9675) .
Shares and debt securities
For information on the legal nature of shares and debt securities (such as bearer bonds, bearer stock, registered shares, registered notes and debt or shares held in a clearing system) and the different ways of taking security over them, see Practice note, Taking security over shares and debt securities ( www.practicallaw.com/8-200-4403) .
For a toolkit of key issues to consider in relation to security over shares that identifies Practical Law materials that give guidance on key issues that need to be considered when taking, perfecting, enforcing or releasing security over shares, see Toolkit, Security over shares ( www.practicallaw.com/3-544-5429) .
For information on taking security over intellectual property ( www.practicallaw.com/9-107-7541) , including patents ( www.practicallaw.com/0-107-6980) , trade marks ( www.practicallaw.com/6-107-7401) , copyright ( www.practicallaw.com/9-107-5995) and design rights, see Practice note, Taking security over intellectual property ( www.practicallaw.com/2-202-0175) .
For an overview of the law of mortgages and charges over land, see Practice note, Mortgages and charges over land ( www.practicallaw.com/2-107-4640) .
For information on the security that can be taken (or arise) over freehold and leasehold property, see Practice note, Taking security over freehold and leasehold property ( www.practicallaw.com/9-378-7525) .
For information on the specific characteristics of agricultural charges and the issues to consider when dealing with assets secured by them, see Practice note, Agricultural charges under the Agricultural Credits Act 1928 ( www.practicallaw.com/2-523-3338) .
Perfection and priority of security
For a quick guide to perfecting security, see Quick guide, Perfecting security ( www.practicallaw.com/2-589-8416) .
For a quick guide to priority of security, see Quick guide, Priority of security ( www.practicallaw.com/1-596-5246) .
For an introduction to the different methods of perfecting security, the basic rules governing priority and contractual ways in which the rules can be varied, see Practice note, Perfection and priority of security ( www.practicallaw.com/6-107-5015) .
For an overview of registering security, see Practice note, Perfection and priority of security: Registration ( www.practicallaw.com/6-107-5015) .
For a quick guide to registering security at Companies House, see Quick guide, Registering security at Companies House ( www.practicallaw.com/1-525-3548) .
For detailed information on the law under the Companies Act 2006 ( www.practicallaw.com/3-503-8567) on registering security at Companies House, see Practice note, Registration of charges created by companies and limited liability partnerships on or after 6 April 2013 ( www.practicallaw.com/4-520-9238) and Quick guide: Registering security at Companies House ( www.practicallaw.com/1-525-3548) .
To listen to a podcast on the current regime for registering security at Companies House, see Podcast, New regime for registration of charges at Companies House.
For a note considering how to deal with common problems that arise in relation to registering security at Companies House, see Practice note, Troubleshooting: Registering security at Companies House ( www.practicallaw.com/6-621-7892) .
For a note that examines the legal background and case law relating to subordination ( www.practicallaw.com/3-107-7332) of debt and analyses different methods used to alter the priority of debts, see Practice note, Subordination ( www.practicallaw.com/7-242-0147) .
For an explanation of the nature and purpose of an intercreditor deed ( www.practicallaw.com/1-107-6282) , see Practice note, Intercreditor deeds: overview ( www.practicallaw.com/5-107-4035) .
For a note describing the practicalities of, and issues to consider when, transferring security interests such as mortgages or charges from one lender to another, see Practice note, Transferring security interests ( www.practicallaw.com/6-522-5510) .
For a note looking at some of the issues to consider when amending a security document, see Practice note, Amending a security document ( www.practicallaw.com/8-520-1320) .
For a note describing the practicalities of releasing a mortgage or charge that has been given by a security provider over its property, assets and undertaking to a lender under a security agreement, see Practice note, Releasing security ( www.practicallaw.com/1-519-3502) , and for a checklist of issues to consider when releasing security, see Checklist, Releasing security created by an English company ( www.practicallaw.com/8-563-9726) .
For an overview of how a lender enforces security over the assets of a corporate security provider (including issues to be considered before enforcing security, enforcement rights available to a lender, when those rights can be exercised and information on the main methods of enforcing security), see Practice note, Enforcing security: overview ( www.practicallaw.com/6-385-5568) .
For a note on environmental issues that may need to be considered when enforcing security, see Practice note, Environmental issues in finance transactions: Provisions in a debenture ( www.practicallaw.com/5-202-2489) .
For an overview of the issues that need to be considered when taking security over an overseas asset or from an overseas entity, see Practice note, Taking cross-border security ( www.practicallaw.com/6-236-8965) .
For a checklist for English lawyers instructing foreign lawyers in connection with a secured loan where the security is located outside England and Wales or where the party providing the security is established outside of England and Wales, see Checklist, Instructing foreign lawyers on security ( www.practicallaw.com/2-380-9583) .
For a checklist for English lawyers obtaining a foreign legal opinion in connection with a secured loan where the party providing the security is incorporated outside of England and Wales, see Checklist, Contents of a foreign legal opinion on security ( www.practicallaw.com/5-238-3952) .
For a global guide to taking security in various jurisdictions, see Finance global guide.
Third party security
For a toolkit containing links to Practical Law materials on third party security, see Toolkit, Third party security ( www.practicallaw.com/8-584-6245) .
For an introduction to the function of security trusts and the role of security trustees in finance transactions, see Practice note, Security trusts in finance transactions: overview ( www.practicallaw.com/7-519-6017) .
For an overview of the nature and purpose of a security trust deed in multi-party lending transactions, including a description of the key provisions of such a document and an explanation of practical issues to consider when drafting or advising on their use, Practice note, Security trust deeds: overview ( www.practicallaw.com/6-521-4583) .
For a note on quasi security arrangements such as negative pledges, retention of title ( www.practicallaw.com/8-107-7160) , set-off ( www.practicallaw.com/4-107-7242) , netting ( www.practicallaw.com/4-500-5892) arrangements, factoring ( www.practicallaw.com/2-107-5734) , invoice discounting ( www.practicallaw.com/6-107-7552) and finance leases ( www.practicallaw.com/0-107-5749) , see Practice note, Quasi-security: overview ( www.practicallaw.com/0-520-7302) .
For an overview of negative pledges, see Practice note, Perfection and priority of security: Negative pledges ( www.practicallaw.com/6-107-5015) .
Retention of title
For an overview of retention of title arrangements, see Practice note, Retention of title ( www.practicallaw.com/3-107-4003) .
For an overview of set-off in finance transactions, see Practice note, Set-off in finance transactions ( www.practicallaw.com/5-264-7953) .
Factoring and invoice discounting
For an overview of factoring and invoice discounting, see Practice note, Factoring and invoice discounting ( www.practicallaw.com/0-201-5981) .
For an overview of leasing as a financing technique, see Practice note, Leasing as a financing technique: overview ( www.practicallaw.com/1-202-1444) .
Guarantees and indemnities
For a note on legal and drafting issues relating to guarantees and indemnities ( www.practicallaw.com/5-107-6256) , see Practice note, Guarantees and indemnities ( www.practicallaw.com/9-200-1437) .
For a note on guaranteeing or underpinning the performance of commercial contracts, such as contracts for the sale of goods or construction contracts (as distinct from guarantees of the repayment of loans or other indebtedness), see Practice note, Bonds, guarantees and standby credits: overview ( www.practicallaw.com/4-107-3649) .
For a note on the use of standby letters of credit ( www.practicallaw.com/3-107-7308) as a form of guarantee, see Practice note, Letters of credit: overview: Standby letters of credit ( www.practicallaw.com/1-107-3740) .
The potential implications of insolvency law should be recognised when advising on security transactions. The following resources provide an overview of various insolvency procedures.
For an overview of Practical Law Finance's resources on restructuring and insolvency, see Practice note, Accessing Practical Law Finance's restructuring and insolvency resources ( www.practicallaw.com/4-500-4656) .
For an introduction to the aims of and background to corporate insolvency law, together with a brief overview of the various insolvency procedures available, see Practice note, Corporate insolvency: a guide ( www.practicallaw.com/8-107-3973) .
For a guide to the formal insolvency procedures available to insolvent limited liability partnerships, see Practice note, Insolvency procedures for limited liability partnerships ( www.practicallaw.com/1-503-8295) .
For an introduction to the insolvency laws relating to individuals, see Practice note, Personal insolvency procedures: overview ( www.practicallaw.com/9-385-9094) .
Security and quasi security issues often arise in transactions involving the restructuring ( www.practicallaw.com/1-384-6171) of debt. For a note that looks at the key stages involved in restructuring corporate debt, see Practice note, Corporate debt restructuring: step by step ( www.practicallaw.com/7-201-5534) .
Cross-border restructuring and insolvency
For a global guide to restructuring and insolvency, see Restructuring and Insolvency global guide.
For background information on the international aspects of insolvency, including Council Regulation (EC) No. 1346/2000 ( www.practicallaw.com/4-507-1033) of 29 May 2000 on insolvency proceedings (OJ 2000 L160/1), UNCITRAL model on cross border insolvencies, section 426 ( www.practicallaw.com/2-513-4338) of the Insolvency Act 1986 ( www.practicallaw.com/9-503-9352) and the common law, see Practice note, Cross-border insolvencies ( www.practicallaw.com/2-107-3985) .
Legal opinions in security transactions
For an overview of the matters to be considered when requesting or responding to a request for an English legal opinion in a transaction involving the giving of security, see Practice note, Legal opinions in finance transactions: overview ( www.practicallaw.com/6-201-7053) .
Execution of security documents
For a note on the execution of deeds and documents that includes specimen execution clauses for various legal entities, see Practice note, Execution of deeds and documents ( www.practicallaw.com/0-380-8400) .
For a note on the role of notaries which explains what notarisation, legalisation and apostille mean, see Practice note, Notaries and notarisation ( www.practicallaw.com/5-238-0996) .
Links to Practical Law resources on security
Practical Law Finance resources on security
Links to Practical Law Finance resources on security:
Related Practical Law resources
Links to Practical Law services covering key practice areas relevant to taking security:
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