Rearrange Pages In Legal Florida Secured Transactions Forms For Free

A Uniform Commercial Code filing?or UCC filing?is a form of notice that lenders use when securing a borrower's loan with an asset or group of assets. This enables lenders to seize the listed property as a way of recouping loan funds in the case of borrower default.

The "Florida Secured Transaction Registry" is a centralized Uniform Commercial Code (UCC) filing and retrieval system containing initial financing statements, amendments, assignments, and other UCC filings as authorized by Florida Statutes Chapter 679.

Article 9 of the Model UCC is intended to create a uniform system across the country for creating, perfecting, and enforcing security interests in personal property. Although Article 9 has been adopted by many states, some states have made modifications to the law or have not adopted the most recent version of the law.

When personal property like inventory, equipment or any other tangible business asset is put as collateral for borrowing then a UCC-1 statement is prepared, filed and signed. This is also called 'perfecting the security interest'.

The Uniform Commercial Code (UCC) was established to protect all individuals engaged in business. It was created in order to standardize commerce between states, whether that commerce occurs between individuals or businesses.

UCC stands for Uniform Commercial Code. The UCC is a set of laws concerning commercial transactions, such as the sale of goods. It also covers secured transactions, where a lender gains the right to foreclose on a borrower's collateral should the borrower default on the loan. This is also called a security interest.