Transfer of record or legal title. Section 9-619 [Maine cite section 9-1619] contains a new provision making clear that a transfer of record or legal title to a secured party is not of itself a disposition under Part 6. This rule applies regardless of the circumstances under which the transfer of title occurs.

Strict foreclosure. Section 9-620 [Maine cite section 9- 1620], unlike former Section 9-505, permits a secured party to accept collateral in partial satisfaction, as well as full satisfaction, of the obligations secured. This right of strict foreclosure extends to intangible as well as tangible property. Section 9-622 [Maine cite section 9-1622] clarifies the effects of an acceptance of collateral on the rights of junior claimants. It rejects the approach taken by some courts--deeming a secured party to have constructively retained collateral in satisfaction of the secured obligations--in the case of a secured party's unreasonable delay in the disposition of collateral. Instead, unreasonable delay is relevant when determining whether a disposition under Section 9-610 [Maine cite section 9-1610] is commercially reasonable.

Effect of noncompliance: "Rebuttable presumption" test. Section 9-626 [Maine cite section 9-1626] adopts the "rebuttable presumption" test for the failure of a secured party to proceed in accordance with certain provisions of Part 6. (As discussed in Comment 4.j., the test does not necessarily apply to consumer transactions.) Under this approach, the deficiency claim of a noncomplying secured party is calculated by crediting the obligor with the greater of the actual net proceeds of a disposition and the amount of net proceeds that would have been realized if the disposition had been conducted in accordance with Part 6 (e.g., in a commercially reasonable manner). For non-consumer transactions, Section 9-626 [Maine cite section 9-1626] rejects the "absolute bar" test that some courts have imposed; that approach bars a noncomplying secured party from recovering any deficiency, regardless of the loss (if any) the debtor suffered as a consequence of the noncompliance.

"Low-price" dispositions: Calculation of deficiency and surplus. Section 9-615(f) [Maine cite section 9-1615, subsection (6)] addresses the problem of procedurally regular dispositions that fetch a low price. Subsection (f) [Maine cite subsection (6)] provides a special method for calculating a deficiency if the proceeds of a disposition of collateral to a secured party, a person related to the secured party, or a secondary obligor are "significantly below the range of proceeds that a complying disposition to a person other than the secured party, a person