Once a default occurs in a secured transaction,the secured party must obtain a court order before taking possession of the collateral.

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In most jurisdictions, a secured party does not need to obtain a court order before taking possession of the collateral after default, as long as they can do so without breaching the peace. However, there are some exceptions to this rule, such as when the collateral is located on a debtor's residential premises.

Once a Default Occurs in a Secured Transaction,the Secured Party