Harris Texas Declaración de terminación - Termination Statement

• Category: Tecnología - Informática e Internet - Protección de secretos comerciales
• State: Multi-State
• County: Harris
• Control #: US-CP0614AM
• Format: Word

Description

Formulario de la publicación, Computer Law: Redacción y negociación de formularios y acuerdos, por Richard Raysman y Peter Brown A Harris Texas Termination Statement is an official document used in the state of Texas to terminate or release a filed financing statement. It serves as legal proof that a particular security interest or lien on personal property has been terminated, no longer encumbering the property. The Harris Texas Termination Statement is regulated by the Uniform Commercial Code (UCC) in Article 9, which governs secured transactions. When a debtor has fully paid off a loan, satisfied an obligation, or wishes to remove a creditor's claim on their property, they can file a termination statement to release the security interest. This statement contains essential information required to identify the original financing statement, such as the file number, date, and parties involved. It provides the necessary details to ensure accuracy and validity, preventing misunderstandings or potential disputes in the future. There are different types of Harris Texas Termination Statements depending on the circumstances: 1. Voluntary Termination Statement: This type is filed by the debtor to officially terminate a financing statement upon fulfilling their obligations or paying off the associated debt. 2. Partial Release Termination Statement: Filed when a debtor settles a portion of the debt, requesting the release of specific collateral mentioned in the financing statement. 3. Lender Termination Statement: A termination statement filed by the creditor or lender when the loan has been fully repaid or discharged. It removes their security interest on the debtor's property. 4. Non-Compliance Termination Statement: If a financing statement initially filed contains errors, inaccuracies, or fails to meet the legal requirements, a non-compliance termination statement can be filed to rectify the situation. It is crucial to file the Harris Texas Termination Statement with the appropriate filing office, usually the Secretary of State or County Clerk, to ensure its effectiveness and proper record-keeping. In summary, a Harris Texas Termination Statement is a legal document used to release a filed financing statement, terminating a creditor's security interest or lien on personal property. Whether it is a voluntary termination, partial release, lender termination, or non-compliance termination, filing the appropriate statement ensures transparency and clarity in the realm of secured transactions in the state of Texas.

A Harris Texas Termination Statement is an official document used in the state of Texas to terminate or release a filed financing statement. It serves as legal proof that a particular security interest or lien on personal property has been terminated, no longer encumbering the property. The Harris Texas Termination Statement is regulated by the Uniform Commercial Code (UCC) in Article 9, which governs secured transactions. When a debtor has fully paid off a loan, satisfied an obligation, or wishes to remove a creditor's claim on their property, they can file a termination statement to release the security interest. This statement contains essential information required to identify the original financing statement, such as the file number, date, and parties involved. It provides the necessary details to ensure accuracy and validity, preventing misunderstandings or potential disputes in the future. There are different types of Harris Texas Termination Statements depending on the circumstances: 1. Voluntary Termination Statement: This type is filed by the debtor to officially terminate a financing statement upon fulfilling their obligations or paying off the associated debt. 2. Partial Release Termination Statement: Filed when a debtor settles a portion of the debt, requesting the release of specific collateral mentioned in the financing statement. 3. Lender Termination Statement: A termination statement filed by the creditor or lender when the loan has been fully repaid or discharged. It removes their security interest on the debtor's property. 4. Non-Compliance Termination Statement: If a financing statement initially filed contains errors, inaccuracies, or fails to meet the legal requirements, a non-compliance termination statement can be filed to rectify the situation. It is crucial to file the Harris Texas Termination Statement with the appropriate filing office, usually the Secretary of State or County Clerk, to ensure its effectiveness and proper record-keeping. In summary, a Harris Texas Termination Statement is a legal document used to release a filed financing statement, terminating a creditor's security interest or lien on personal property. Whether it is a voluntary termination, partial release, lender termination, or non-compliance termination, filing the appropriate statement ensures transparency and clarity in the realm of secured transactions in the state of Texas.

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.