The Nassau New York UCC1-AD Financing Statement Addendum is a legal document used for additional information and modifications to a UCC1 Financing Statement filed in Nassau County, New York. This addendum is critical in providing detailed information about the secured party or lien holder's interest in collateral, ensuring transparency and protecting their rights. The UCC1-AD Financing Statement Addendum serves as an attachment to the UCC1 Financing Statement and provides important supplementary details. It includes various key elements such as the debtor's name, address, social security number or organization number, the secured party's name and address, and a description of the collateral. Several types of Nassau New York UCC1-AD Financing Statement Addendum exist to address different scenarios and specific requirements: 1. Amendment: This type of addendum is used when modifications, updates, or corrections need to be made to the original UCC1 Financing Statement. It can include changes in the debtor's information, collateral description, and changes in the secured party's information. 2. Continuation: A continuation addendum is filed to extend the effectiveness of a UCC1 Financing Statement when it is about to expire. This is typically done before the initial financing statement reaches its five-year expiration period. 3. Assignment: An assignment addendum is required when a secured party assigns or transfers their interest in the collateral to another party. It ensures that the new secured party gains legal ownership and rights. 4. Termination: This type of addendum is filed to indicate the termination and release of a previously filed UCC1 Financing Statement. It is typically used when the secured debt has been fully satisfied or when the collateral is sold or discharged. The Nassau New York UCC1-AD Financing Statement Addendum is an integral part of the UCC filing system, ensuring accuracy, compliance, and legal protection for secured parties involved in financial transactions. It is crucial to consult with legal professionals or local authorities to ensure proper completion and submission of the addendum based on the specific requirements of the situation.
Nassau New York UCC1-AD Financing Statement Addendum
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How to fill out Nassau New York UCC1-AD Financing Statement Addendum?
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