UCC1 - Financing Statement Addendum - Texas - For use after July 1, 2001. This form permits you to add an additional debtor if necessary to cover collateral as specified in the statement.
The College Stations Texas UCC1 Financing Statement Addendum is a legal document that provides additional details and information related to a UCC1 Financing Statement filed in College Station, Texas. This addendum is crucial as it ensures accuracy and completeness in recording secured transactions, which helps protect the rights of both creditors and debtors. Keywords: College Station Texas, UCC1 Financing Statement Addendum, legal document, additional details, information, secured transactions, accuracy, completeness, creditors, debtors. Types of College Station Texas UCC1 Financing Statement Addendum: 1. Amendment Addendum: This type of addendum is used when changes and updates need to be made to the original UCC1 Financing Statement. It can include modifications such as correcting errors, updating collateral descriptions, or adding additional collateral. 2. Termination Addendum: This addendum is used when a secured party wants to terminate or release their interest in a specific collateral item stated in the original UCC1 Financing Statement. It provides a clear record of the termination, ensuring that the debtor is no longer obligated under that specific collateral. 3. Continuation Addendum: The continuation addendum is filed when the original UCC1 Financing Statement is set to expire, and the secured party wishes to extend it to ensure the continuation of their security interest for the specified collateral. It allows the secured party to maintain priority over other creditors who may claim an interest in the collateral. 4. Assignment Addendum: This addendum is used when a secured party transfers their rights or interest in a specific collateral item to another party. It provides a documented record of the transfer, allowing the new secured party to assume the rights and obligations related to the collateral described in the UCC1 Financing Statement. Keywords: Amendment Addendum, Termination Addendum, Continuation Addendum, Assignment Addendum, original UCC1 Financing Statement, changes, updates, corrections, collateral descriptions, additional collateral, termination, release, interest, secure party, debtor, continuation, priority, expiration, assignment, transfer.The College Stations Texas UCC1 Financing Statement Addendum is a legal document that provides additional details and information related to a UCC1 Financing Statement filed in College Station, Texas. This addendum is crucial as it ensures accuracy and completeness in recording secured transactions, which helps protect the rights of both creditors and debtors. Keywords: College Station Texas, UCC1 Financing Statement Addendum, legal document, additional details, information, secured transactions, accuracy, completeness, creditors, debtors. Types of College Station Texas UCC1 Financing Statement Addendum: 1. Amendment Addendum: This type of addendum is used when changes and updates need to be made to the original UCC1 Financing Statement. It can include modifications such as correcting errors, updating collateral descriptions, or adding additional collateral. 2. Termination Addendum: This addendum is used when a secured party wants to terminate or release their interest in a specific collateral item stated in the original UCC1 Financing Statement. It provides a clear record of the termination, ensuring that the debtor is no longer obligated under that specific collateral. 3. Continuation Addendum: The continuation addendum is filed when the original UCC1 Financing Statement is set to expire, and the secured party wishes to extend it to ensure the continuation of their security interest for the specified collateral. It allows the secured party to maintain priority over other creditors who may claim an interest in the collateral. 4. Assignment Addendum: This addendum is used when a secured party transfers their rights or interest in a specific collateral item to another party. It provides a documented record of the transfer, allowing the new secured party to assume the rights and obligations related to the collateral described in the UCC1 Financing Statement. Keywords: Amendment Addendum, Termination Addendum, Continuation Addendum, Assignment Addendum, original UCC1 Financing Statement, changes, updates, corrections, collateral descriptions, additional collateral, termination, release, interest, secure party, debtor, continuation, priority, expiration, assignment, transfer.
