A Wake North Carolina Financing Statement is a legal document that outlines the details of a financial agreement between a debtor and a secured party in Wake County, North Carolina. It serves as a public notice to notify other potential creditors about the secured party's claim on the debtor's collateral. Keywords: Wake North Carolina, Financing Statement, legal document, financial agreement, debtor, secured party, Wake County, collateral, public notice, potential creditors. In Wake County, there are two types of Wake North Carolina Financing Statements: 1. UCC-1 Financing Statement: This type of financing statement is filed under the Uniform Commercial Code (UCC) in Wake County. It is generally used for securing commercial transactions, such as loans, leasing or purchasing equipment, or business financing. The UCC-1 Financing Statement provides details about the debtor, secured party, and the collateral involved. Keywords: UCC-1 Financing Statement, Uniform Commercial Code, commercial transactions, loans, leasing, purchasing equipment, business financing, details, debtor, secured party, collateral. 2. Real Estate Financing Statement: This financing statement is specifically used to secure liens on real property in Wake County, North Carolina. When a debtor wants to borrow money using their property as collateral, the Real Estate Financing Statement is filed to publicly record the lien and ensure the creditor's interest is protected. Keywords: Real Estate Financing Statement, liens, real property, collateral, borrow money, debtor, creditor, public record, interest. It is crucial to accurately complete and file the Wake North Carolina Financing Statement, as any errors or omissions may weaken the secured party's rights or lead to challenges from other potential creditors. This legal document plays a vital role in establishing priority and determining the order of claims in case of default or bankruptcy. Keywords: complete, file, errors, omissions, weaken, secured party's rights, challenges, potential creditors, priority, order of claims, default, bankruptcy. In summary, a Wake North Carolina Financing Statement is a crucial legal document that outlines the details of a financial agreement between a debtor and a secured party. There are two types of financing statements in Wake County — the UCC-1 Financing Statement used for commercial transactions, and the Real Estate Financing Statement used for securing liens on real property. Accurate completion and filing of this document are essential for protecting the rights of the secured party and establishing priority in case of default or bankruptcy.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.