Learn how to navigate the UCC Article 9 foreclosure process to effectively recover collateral, comply with legal requirements, and avoid common pitfalls that create post-sale liability.
Many parties involved in secured transactions do not fully understand their options upon default. Bankruptcy liquidation is only one method a secured creditor may rely on to recover collateral; however, it can be time-consuming and costly for all parties involved. This presentation introduces a direct and straightforward alternative for those who prefer not to proceed with bankruptcy or other judicial proceedings. A UCC foreclosure is a non-judicial process initiated by a secured creditor that may be particularly useful when there is no dispute regarding the obligation owed. This program will explain the methods secured creditors may use during the disposition of collateral and the requirements for each method of disposition. You will also learn the standards and factors courts often consider when determining whether the parties have complied with UCC enforcement rules. Finally, you will identify--and learn how to avoid--common challenges and pitfalls faced by other creditors following disposition.
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Agenda
Introduction to UCC Article 9 Foreclosure
- What Is It?
- When Is It Used?
- Type of Collateral
- Pros
- Limitations
- Steps Taken
Methods of Foreclosure - Section 9-610(C)
- Private Sale
- Public Sale
- Strict Foreclosure
- Requirements/Steps
- Satisfaction of Debt
Requirements
- Notice
- When Must Notice Be Given?
- To Whom Must Notice Be Given?
- What Information Must Be Included in the Notice?
- Commercially Reasonableness
- Definition Section 9610
- Tests Employed by Courts
- Requirements
- When Not Applicable
- Price Determination
- Public Meaningful Opportunity
Post-Sale Procedures
- Application of Proceeds
- Liability for Deficiency
- Right to Surplus
Pitfalls to Avoid
- Successor Liability
- De Facto Merger/Consolidation
- Mere Continuation
- How to Avoid?
- Language in Purchase Agreements
Failure to Comply With Article 9 Enforcement Rules
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Credits
OnDemand Course
This course was last revised on November 20, 2025.
Call 1-866-352-9540 for further credit information.
- AK CLE 1.0
- Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.1
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.1 hours credit.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- IL CLE 1.0
- This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- ND CLE 1.0
- North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.0 hours of CLE credit.
- NH MCLE 1.0
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 63 Minutes.
- NJ CLE 1.3
- This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.3 hours of total CLE credit.
- NM CLE 1.0
- This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.0 hours of credit.
- NY CLE 1.0 including Areas of Professional Practice 1
- This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hours in the area(s) of Areas of Professional Practice for 1.00 hour. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Education- Noggin Guru, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
- OH CLE 1.0
- This course has been approved by the Ohio Supreme Court Commission on Continuing Legal Education for 1.0 CLE credit hours. To fulfill CLE requirements for self-study, web-based programs, you must complete 100% of the polling questions during the program. Your hours will be filed electronically within thirty (30) business days by Lorman Education Services provided you fulfilled 100% attendance and polling questions answered.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- WI CLE 1.0
- This program qualifies for 1.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
- WV MCLE 1.3
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hours.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
- AK CLE 1.0
- Arizona CLE 1.0
- CA MCLE 1.0
- CT CLE 1.0
- HI CLE 1.0
- MO CLE 1.3
- NM CLE 1.0
- VT CLE 1.0
- WV MCLE 1.3
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Kirk B. Burkley, Esq.
Bernstein-Burkley, P.C.
- Managing Partner of Bernstein-Burkley, P.C.
- Practice emphasizes all aspects of bankruptcy and restructuring, creditors’ rights, business and corporate transactions, litigation, real estate, and oil and gas
- Conducts regular seminars, live webinars, and workshops on bankruptcy, creditors’ rights, and oil and gas
- Author of several publications related to the bankruptcy field, with work appearing in the ABI Journal, Equipment Leasing Newsletter, Pennsylvania Association of Credit Managers Newsletter The Creditor, and more
- Chair of the CLLA Bankruptcy Section Executive Council, past president of the American Board of Certification, past president of the Turnaround Management Association, member of the Allegheny County Bar Association, and the American Bankruptcy Institute
- J.D. Degree, University of Pittsburgh School of Law; B.S. degree, Ohio University
- Can be contacted at [email protected]
or 412-456-8108
Mason Shelton
Bernstein-Burkley, P.C.
- Focuses his practice on creditor’s rights, workouts, and bankruptcy litigation.
- Former law clerk for the Honorable Gregory L. Taddonio, U.S. Bankruptcy Court for the Western District of Pennsylvania.
- Judicial intern for the Honorable Charles M. Walker, U.S. Bankruptcy Court for the Middle District of Tennessee.
- Served as Acquisitions Editor for Transactions: The Tennessee Journal of Business Law.
- CALI Excellence for the Future Award recipient in the following: Business reorganizations and workouts, consumer bankruptcy and finance, and negotiations
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