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Ucc Financing Statement Additional Party Idaho Secretary of Form

Ucc Financing Statement Additional Party Idaho Secretary of Form

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[Music] so what is a ucc one form and how does it work a uniform commercial code number one form is a form that creditors use to secure their interest in property and in that sense the ucc one form is to personal property what a mortgage or deed of trust is to real estate so creditors use this form to secure collateral for loans for example say john wants to open a gym and needs to borrow money for gym equipment the bank will generally record a ucc one and describe the gem equipment that secures the loan if john does not pay the loan the bank can seize and sell the gem equipment to recoup the loan proceeds i'm the business guy and the purpose of this video is to help you grasp the concept and to see how easy it is to understand what a ucc one form does i've been in the asset protection from lawsuits field since 1991 and bring you my personal experience our company started in 1906 we have attorneys on our staff and we have employees nationwide and if you are watching thi

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