Eugene Oregon UCC1 Financing Statement

• Category: Oregon Contracts - Uniform Commercial Code
• State: Oregon
• City: Eugene
• Control #: OR-UCC1
• Format: PDF

Description

UCC1 - Financing Statement - Oregon - For use after July 1, 2001. This form is a financing statement used to cover certain collateral as specified in the form. This Financing Statement complies will all applicable state laws. Eugene Oregon UCC1 Financing Statement is a legal document used to secure a creditor's interest in a debtor's personal property as collateral for a loan or credit. It is an essential part of the Uniform Commercial Code (UCC), which governs commercial transactions in the United States. Keywords: 1. Eugene, Oregon: Eugene is a city located in the state of Oregon, known for its vibrant arts scene and picturesque landscapes. It is a significant hub for commerce and commercial activities in the region. 2. UCC1 Financing Statement: The UCC1 Financing Statement is a specific form used to establish a creditor's priority in a debtor's personal property. It serves as a public record, providing notice to other potential creditors about the secured interest held by a specific creditor. 3. Personal Property: In the context of UCC1 Financing Statement, personal property refers to tangible and intangible assets that are not real estate. It includes equipment, inventory, accounts receivable, intellectual property rights, and other assets that can be used as collateral for a loan. 4. Creditor: A creditor is an individual or business entity that lends money or extends credit to another party with a legal claim on the debtor's personal property until the loan or credit is repaid. The creditor has a security interest in the collateral. 5. Debtor: A debtor is an individual or business entity that borrows money or receives credit from a creditor. They grant the creditor a security interest in their personal property as collateral for the loan or credit. Different types of Eugene Oregon UCC1 Financing Statements: 1. Original Financing Statement: This is the initial UCC1 Financing Statement filed by the creditor to establish a security interest in the debtor's personal property. 2. Amendment Financing Statement: If there are changes or modifications to the original Financing Statement, an amendment statement is filed to update the information, such as adding or removing collateral or changing the creditor's information. 3. Termination Financing Statement: When the loan or credit is fully repaid or the security interest is no longer valid, the creditor files a termination statement to release their claim on the debtor's personal property. 4. Continuation Financing Statement: If the original Financing Statement is set to expire, a continuation statement can be filed to extend the creditor's security interest for an additional period. Overall, the Eugene Oregon UCC1 Financing Statement plays a crucial role in establishing and protecting a creditor's interest in a debtor's personal property, ensuring transparency and clarity in commercial transactions.

Eugene Oregon UCC1 Financing Statement is a legal document used to secure a creditor's interest in a debtor's personal property as collateral for a loan or credit. It is an essential part of the Uniform Commercial Code (UCC), which governs commercial transactions in the United States. Keywords: 1. Eugene, Oregon: Eugene is a city located in the state of Oregon, known for its vibrant arts scene and picturesque landscapes. It is a significant hub for commerce and commercial activities in the region. 2. UCC1 Financing Statement: The UCC1 Financing Statement is a specific form used to establish a creditor's priority in a debtor's personal property. It serves as a public record, providing notice to other potential creditors about the secured interest held by a specific creditor. 3. Personal Property: In the context of UCC1 Financing Statement, personal property refers to tangible and intangible assets that are not real estate. It includes equipment, inventory, accounts receivable, intellectual property rights, and other assets that can be used as collateral for a loan. 4. Creditor: A creditor is an individual or business entity that lends money or extends credit to another party with a legal claim on the debtor's personal property until the loan or credit is repaid. The creditor has a security interest in the collateral. 5. Debtor: A debtor is an individual or business entity that borrows money or receives credit from a creditor. They grant the creditor a security interest in their personal property as collateral for the loan or credit. Different types of Eugene Oregon UCC1 Financing Statements: 1. Original Financing Statement: This is the initial UCC1 Financing Statement filed by the creditor to establish a security interest in the debtor's personal property. 2. Amendment Financing Statement: If there are changes or modifications to the original Financing Statement, an amendment statement is filed to update the information, such as adding or removing collateral or changing the creditor's information. 3. Termination Financing Statement: When the loan or credit is fully repaid or the security interest is no longer valid, the creditor files a termination statement to release their claim on the debtor's personal property. 4. Continuation Financing Statement: If the original Financing Statement is set to expire, a continuation statement can be filed to extend the creditor's security interest for an additional period. Overall, the Eugene Oregon UCC1 Financing Statement plays a crucial role in establishing and protecting a creditor's interest in a debtor's personal property, ensuring transparency and clarity in commercial transactions.