§ 60.10.010 Definitions
§ 60.10.020 Methods of foreclosure
§ 60.10.023 Judicial foreclosure of personal property liens
§ 60.10.027 Judicial foreclosure of a security interest
§ 60.10.030 Notice and sale — Priorities — Sale procedure — Surplus — Deficiency — Obligation of lienholder
§ 60.10.040 Rights and interest of purchaser for value — Certificates of title
§ 60.10.050 Redemption
§ 60.10.060 Noncompliance with chapter — Rights of lien debtor
§ 60.10.070 “Commercially reasonable.”
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Terms Used In Washington Code > Chapter 60.10 - Personal property liens -- Summary foreclosure

  • Collateral: means the property subject to a statutory lien. See Washington Code 60.10.010
  • commercially reasonable: shall be construed in a manner consistent with the following:
Washington Code 60.10.070
  • Contract: A legal written agreement that becomes binding when signed.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • lien debtor: means the person who is obligated, owes payment or other performance. See Washington Code 60.10.010
  • Lienholder: means a person who, by statute, has acquired a lien on the property of the lien debtor, or such person's successor in interest. See Washington Code 60.10.010
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • person: may be construed to include the United States, this state, or any state or territory, or any public or private corporation or limited liability company, as well as an individual. See Washington Code 1.16.080
  • Personal property: All property that is not real property.
  • Statute: A law passed by a legislature.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC