Security Agreements
Security Interests That Are Properly Drafted, Properly Perfected.
A security agreement is only as good as its drafting and its perfection. A lien that isn't properly documented, filed, or perfected under UCC Article 9 may be unenforceable when you need it most — especially in bankruptcy or competing creditor situations.
Ainsworth Gorkin drafts and reviews security agreements for lenders and funders across New York and New Jersey. We also handle security interest enforcement when a borrower defaults and the collateral needs to be recovered — fast.
Security agreement work includes:
→ UCC Article 9 Security Agreements
→ UCC-1 Financing Statement Filing
→ Pledge Agreements
→ Collateral Descriptions
→ Security Interest Enforcement
→ Lien Priority Disputes
What We Handle
Security Agreement Services
01
UCC Article 9 Security Agreements
Drafting and reviewing security agreements that properly describe the collateral, establish the security interest, and satisfy the requirements for enforceability under New York's UCC Article 9.
02
UCC-1 Financing Statements
Proper filing of UCC-1 financing statements to perfect the security interest — including collateral description, debtor name accuracy, and filing in the correct jurisdiction.
03
Pledge Agreements
Pledging equity interests, membership interests, or other intangible assets as collateral — with the control agreements and documentation required to perfect the pledge.
04
Security Interest Enforcement
When a borrower defaults, we pursue collateral recovery through Article 9 disposition, replevin actions, and judgment enforcement — moving quickly to protect the lender's position before assets are dissipated.
05
Lien Priority Disputes
Competing creditors, senior vs. junior lien disputes, and priority challenges — we analyze the perfection and priority of security interests and litigate when necessary.
06
Security Agreement Review
Reviewing existing security agreements for enforceability issues — collateral descriptions that won't hold up, perfection defects, and priority gaps that could undermine the lender's position in a dispute or bankruptcy.
Getting It Right
Four Requirements for an Enforceable Security Interest.
Under UCC Article 9, a security interest must satisfy specific requirements to attach and be enforceable. Failure on any one of these can render the entire security interest unenforceable.
Requirement 01
Value Given
The secured party must have given value — typically by making the loan or extending credit. This is usually straightforward, but must be documented correctly in the security agreement.
Requirement 02
Debtor Rights in Collateral
The debtor must have rights in the collateral — you can't grant a security interest in something you don't own or have rights to. We verify this as part of every security agreement transaction.
Requirement 03
Authenticated Security Agreement
The debtor must authenticate (sign) a security agreement that contains an adequate description of the collateral. Collateral descriptions that are too vague can defeat the security interest entirely.
Requirement 04
Perfection
To be effective against third parties and in bankruptcy, the security interest must be perfected — typically by filing a UCC-1 in the correct jurisdiction with the correct debtor name and collateral description.
Why Ainsworth Gorkin
Security Agreements Done Right the First Time.
A security interest that isn't properly drafted and perfected provides false protection — the lender thinks they're secured, but when they try to enforce it, the defects surface. We make sure that doesn't happen.
We handle security agreements as part of a comprehensive finance practice — meaning we understand how security agreements interact with the underlying loan documents, the guaranty structure, and the overall deal. We don't review agreements in isolation.
We Also Handle Enforcement
When a borrower defaults and collateral needs to be recovered, we pursue enforcement under UCC Article 9 — including commercially reasonable disposition, replevin, and judgment collection. Having the same firm that drafted the agreement handle enforcement means nothing falls through the cracks and the lender's position is protected at every stage.
1
Drafting & Enforcement ExperienceWe draft security agreements and enforce them when needed. That full-cycle experience makes our drafting better.
2
UCC Article 9 ExpertisePerfection, priority, collateral description, and enforcement — we know UCC Article 9 and apply it correctly every time.
3
Part of a Full Finance PracticeWe handle the loan agreement, the guaranty, and the security agreement — so everything works together rather than in isolation.
4
Partners on Every MatterLevi or Shaya works your matter directly — not a paralegal reviewing documents and flagging issues without context.
5
Free Initial ConsultationWe'll review your situation and tell you exactly what you need — before you commit to anything.
Need a security agreement drafted or enforced in New York? Let's talk.
Free consultation. We represent lenders and funders.