Is Pawned Property a ‘Non-Possessory, Non-Purchase Money Security Interest’?
The answer is no, but the questions are: What’s a non-possessory, non-purchase money security interest, and why would that matter in New York bankruptcy? Pawned property is a commonly understood concept, and I’ve written about how it contrasts with repossessed property. The Bankruptcy Code specifies that pawned property is not property of the bankruptcy estate. …
Is Pawned Property a ‘Non-Possessory, Non-Purchase Money Security Interest’? Read More »
