This podcast by Professor Jennifer Martin explains the use of after-acquired property clauses and future advances given by secured creditors. This topic primarily requires a careful reading of UCC § 9-204 and a basic understanding of how a secured party attaches its security interest in the first place. By the podcast’s conclusion, you should be able to (1) identify and describe when a secured creditor would want to use an after-acquired property clause in a security agreement to enable the creditor to reach collateral acquired by a debtor in the future; (2) identify when the limitations on the use of after-acquired property clauses arise; and (3) describe the process by which a creditor might be able to have the security interest cover obligations that might come into existence in the future as a future advance.
A transcript of the podcast is here.
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