
ADDITIONAL SECURED PARTYS NAME or Name of TOTAL ASSIGNEE Insert Only One Name 24a or 24b Form


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People also ask
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Who files a UCC-1?
A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtor's personal property. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.
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Are UCC filings only for businesses?
UCC liens can be filed on a range of personal and/or business assets, including but not limited to real estate, inventory, receivables, vehicles, machinery and equipment. Once a UCC lien is filed with the secretary of state's office, it becomes public record, meaning anyone can go online and search for active filings.
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Can an UCC be filed against an individual?
What information is required for a UCC-1 filing? For a filing against an individual person as the debtor, the required information is: Last name, first name. Mailing address, city, state, zip code and country.
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What is an assignor secured party?
Assignor Secured Party or “Qualified Issuer” means the lender of the Bond Loan, [QUALIFIED ISSUER], organized under the laws of the State of [STATE].
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Can you file a UCC-1 on an individual?
In all cases, you should file a UCC-1 with the secretary of state's office in the state where the debtor is incorporated or organized (if a business), or lives (if an individual).
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What is the difference between UCC-1 and UCC-3?
There are two main forms: UCC-1 is completed upon the purchase or refinance of a property at closing and remains valid for 5 years from the date of filing. UCC-3 is an amendment or “continuation statement” that the owner files to renew the UCC-1 for another 5-year period.
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How to properly fill out a UCC-1 form?
DO: Always use the Debtor's exact Legal Name and Address. The debtor's name should match what is listed on their legal license along with the correct address, or on the most recently filed corporate documents. Include the Lender's Name and Address. Provide a description of the collateral.
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What makes an UCC invalid?
One of the most common mistakes creditors make when filing a UCC-1 financing statement is including incorrect information, including: Debtor's Name: The debtor's name must match the name on a government-issued identification. You cannot eliminate a middle name, misspell the name, or even add an extra space or period.
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