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Uniform Commercial Code1 (UCC1) statement is a legal notice filed by creditors in an effort to publicly declare their right to seize assets of debtors who default on loans. UCC1 notices are typically printed in local newspapers, in an effort to publicly express a lender's intent to seize collateralized assets.

3 termination statement (a ?Termination?) is a required filing that terminates a security interest that has been perfected by a UCC1 filing. 1. A Termination for personal property is accomplished by completing and filing form UCC3 with the Secretary of State's office in the appropriate state.

What does it look like? A UCC-1 financing statement contains three important pieces of information: Parts 1 and 2 contain the personal and contact information of the borrower. Part 3 contains the personal and contact information of the secured party?otherwise known as the creditor.

A UCC filing is the official notice lenders use to indicate that they have a security interest in a borrower's assets or property. The UCC filing establishes a lien against the collateral the borrower uses to secure the loan ? giving the lender the right to claim that collateral as repayment in the case of default.

3 is used as a way to amend that original lien filing and do things like terminate the UCC, edit any of the details of the lien, or assign your interests to another secured party for the lien.

State of Nevada eSOS Online Help UCC 11 ? Lien Search - To start a UCC 11 Search request, specify if you would like to search by Debtor or Specified copies. Proceed to enter the search criteria and select the options provided in the step-by-step processing for entry of the search requirements.