For many years taking security over art from an individual where the art is left on his or her walls has been very challenging given the archaic procedure laid down by the Bills of Sale Acts passed in the 19th century.
At last, despite all the disruption of Brexit, it look as though this parliament will shortly be passing a new Act to simplify the process of taking security over goods including motor vehicles.
Click here to read the briefing which relates to the Goods Mortgages Bill and is primarily aimed at lenders in the art market.
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