Florida Statutes

Fla. Stat. § 679.2031 (2025)

Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites.

✓ 2025 Florida Statutes — current through the 2025 Regular Session

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679.2031 Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites.—

(1) A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement expressly postpones the time of attachment.

(2) Except as otherwise provided in subsections (3)-(10), a security interest is enforceable against the debtor and third parties with respect to the collateral only if:

(a) Value has been given;

(b) The debtor has rights in the collateral or the power to transfer rights in the collateral to a secured party; and

1. The debtor has signed a security agreement that provides a description of the collateral and, if the security interest covers timber to be cut, a description of the land concerned;

2. The collateral is not a certificated security and is in the possession of the secured party under s. 679.3131 pursuant to the debtor’s security agreement;

3. The collateral is a certificated security in registered form and the security certificate has been delivered to the secured party under s. 678.3011 pursuant to the debtor’s security agreement;

4. The collateral is controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, electronic documents, electronic money, investment property, or letter-of-credit rights, and the secured party has control under s. 669.105, s. 677.106, s. 679.1041, s. 679.1051, s. 679.1061, or s. 679.1071 pursuant to the debtor’s security agreement; or

5. The collateral is chattel paper and the secured party has possession and control under s. 679.3152 pursuant to the debtor’s security agreement.

(3) Subsection (2) is subject to s. 674.2101 on the security interest of a collecting bank, s. 675.118 on the security interest of a letter-of-credit issuer or nominated person, s. 679.1101 on a security interest arising under chapter 672 or chapter 680, and s. 679.2061 on security interests in investment property.

(4) A person becomes bound as debtor by a security agreement entered into by another person if, by operation of law other than this chapter or by contract:

(a) The security agreement becomes effective to create a security interest in the person’s property; or

(b) The person becomes generally obligated for the obligations of the other person, including the obligation secured under the security agreement, and acquires or succeeds to all or substantially all of the assets of the other person.

(5) If a new debtor becomes bound as debtor by a security agreement entered into by another person:

(a) The agreement satisfies paragraph (2)(c) with respect to existing or after-acquired property of the new debtor to the extent the property is described in the agreement; and

(b) Another agreement is not necessary to make a security interest in the property enforceable.

(6) The attachment of a security interest in collateral gives the secured party the rights to proceeds provided by s. 679.3151 and is also attachment of a security interest in a supporting obligation for the collateral.

(7) The attachment of a security interest in a right to payment or performance secured by a security interest or other lien on personal or real property is also attachment of a security interest in the security interest, mortgage, or other lien.

(8) The attachment of a security interest in a securities account is also attachment of a security interest in the security entitlements carried in the securities account.

(9) The attachment of a security interest in a commodity account is also attachment of a security interest in the commodity contracts carried in the commodity account.

(10) A security interest in an account consisting of a right to payment of a monetary obligation for the sale of real property that is the debtor’s homestead under the laws of this state is not enforceable unless:

(a) The description of the account in the security agreement conspicuously states that the collateral includes the debtor’s right to payment of a monetary obligation for the sale of real property;

(b) The description of the account in the security agreement includes a legal description of the real property;

(c) The description of the account in the security agreement conspicuously states that the real property is the debtor’s homestead; and

(d) The security agreement is also signed by the debtor’s spouse, if the debtor is married; if the debtor’s spouse is incompetent, then the method of signature by the debtor’s spouse is the same as provided by the laws of this state, other than this chapter, which apply to the alienation or encumbrance of homestead property by an incompetent person.

History.—s. 2, ch. 2001-198; s. 3, ch. 2002-242; s. 59, ch. 2010-131; s. 75, ch. 2025-92.

Notes of Decisions

Cited in 13 cases (3 in the last 5 years), 2003–2025 · leading case: HSBC Bank USA, N.A. v. Rolando Perez, Juan G. Guerra, Esperanza Medina, LaSalle, Bank, N.A., & U.S. Bank, N.A., 165 So. 3d 696 (Fla. 4th DCA 2015).

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HSBC Bank USA, N.A. v. Rolando Perez, Juan G. Guerra, Esperanza Medina, LaSalle, Bank, N.A., & U.S. Bank, N.A., 165 So. 3d 696 (Fla. 4th DCA 2015). · cites it 3× “” An assignment of a *700 promissory note “attaches” — in other words, becomes enforceable against the assignor and debtor with respect to the collateral — when (a) value has been given, (b) the assignor has rights in the collateral or the power to transfer rights in the…”

Bender v. James (In re Hintze), 525 B.R. 780 (Bankr. N.D. Fla. 2015). · cites it 7× “Fla. Stat. § 679.2031 (2014); see also James J.”

Farm Credit of Nw. Florida v. Easom Peanut Co., 718 S.E.2d 590 (Ga. Ct. App. 2011). “OCGA § 11-9-203 (b) (2); Fla. Stat. § 679.2031 (2) (b). “[I]t is self-evident that in the absence of special circumstances a security interest can attach only to the extent of the interest of the debtor.”

In Re Summit Staffing Polk Cnty., Inc., 305 B.R. 347 (Bankr. M.D. Fla. 2003). “Florida Statutes § 679.2031(4)(b) provides that, in certain circumstances, a new debtor may become bound by a security agreement entered into by another person.”

Brown v. Master Fin., Inc. (In Re Brown), 311 B.R. 282 (Bankr. M.D. Fla. 2004). “Section 679.2031 of the Florida Statutes sets forth the process by which a security interest in personal property is created and provides as follows: 679.”

In Re Royal West Props., Inc., 441 B.R. 158 (Bankr. S.D. Florida 2010). · cites it 2× “1091(4)(k) (West 2010) (attachment of a security interest in a mortgage on real property under Fla. Stat. § 679.2031 and perfection of that interest under Fla.”

Charlotte Dev. Partners, LLC v. Tricom Pictures & Prods., Inc., 33 So. 3d 690 (Fla. 4th DCA 2009). “” § 679.2031(2)(c)l., Fla. Stat. (2008). Section 679.”

Westlake Flooring Co., LLC, D/B/A Westlake Flooring Servs. v. Miami Motorsports, LLC (Fla. 4th DCA 2025). · cites it 4× “§ 679.2031(1), Fla. Stat. (2015). Perez, 165 So.”

Echo River Sanctuary, LLC f/k/a TSE Plantation, LLC v. 21st Mortg. Corp., Meri L. Harrell Curtis R. Harrell (Fla. 1st DCA 2022). · cites it 2× “See § 679.2031(1), Fla. Stat. (a creditor’s security interest in collateral attaches when it becomes enforceable against the debtor).”

In re Tuscany Energy, LLC, 561 B.R. 910 (Bankr. S.D. Florida 2016). · cites it 2× “Florida Statutes § 679.2031 provides, in relevant part, as follows: (1) A security interest attaches to collateral ■ when it becomes enforceable against the debtor with respect to the collateral .”

Kearney Constr. Co., LLC v. Travelers Cas. & Sur. Co. of Am. (11th Cir. 2019). “See Fla. Stat. § 679.2031 (2). For the foregoing reasons, we conclude that the district court properly held that Bing Kearney’s IRA Account No.”

Off. Comm. of Unsecured Creditors v. EBF Partners, LLC (Bankr. D. Neb. 2019). “Fla. Stat. Ann. § 679.2031 (2) (West). -9- tort claims, deposit accounts, documents, goods, instruments, investment property, letter-of-credit rights, letters of credit, money, and oil, gas, or other minerals before extraction.”

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— 679.2031(1) — 3 cases

HSBC Bank USA, N.A. v. Rolando Perez, Juan G. Guerra, Esperanza Medina, LaSalle, Bank, N.A., & U.S. Bank, N.A., 165 So. 3d 696 (Fla. 4th DCA 2015). “” An assignment of a *700 promissory note “attaches” — in other words, becomes enforceable against the assignor and debtor with respect to the collateral — when (a) value has been given, (b) the assignor has rights in the collateral or the power to transfer rights in the…”

Echo River Sanctuary, LLC f/k/a TSE Plantation, LLC v. 21st Mortg. Corp., Meri L. Harrell Curtis R. Harrell (Fla. 1st DCA 2022). “See § 679.2031(1), Fla. Stat. (a creditor’s security interest in collateral attaches when it becomes enforceable against the debtor).”

Westlake Flooring Co., LLC, D/B/A Westlake Flooring Servs. v. Miami Motorsports, LLC (Fla. 4th DCA 2025). “§ 679.2031(1), Fla. Stat. (2015). Perez, 165 So.”

— 679.2031(2)(a) — 1 case

Westlake Flooring Co., LLC, D/B/A Westlake Flooring Servs. v. Miami Motorsports, LLC (Fla. 4th DCA 2025). “§ 679.2031(1), Fla. Stat. (2015). Perez, 165 So.”

— 679.2031(2)(c) — 1 case

Charlotte Dev. Partners, LLC v. Tricom Pictures & Prods., Inc., 33 So. 3d 690 (Fla. 4th DCA 2009). “” § 679.2031(2)(c)l., Fla. Stat. (2008). Section 679.”

— 679.2031(4)(b) — 1 case

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