UCC3 - Financing Statement Amendment - Colorado - For use after July 1, 2001. This amendment is to be filed in the real estate records. This Financing Statement complies with all applicable state statutes.
UCC3 - Financing Statement Amendment - Colorado - For use after July 1, 2001. This amendment is to be filed in the real estate records. This Financing Statement complies with all applicable state statutes.
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A UCC filing is a legal notice a lender files with the secretary of state when they have a security interest against one of your assets. It gives notice that the lender has an interest, or lien, against the asset being used by you to secure the financing. The term UCC filing comes from the uniform commercial code.
Under the Uniform Commercial Code, a UCC-3 is used to continue, assign, terminate, or amend an existing UCC-1 financing statement (UCC-1).
Enter your information. The type of information you can use to search UCC filings varies among states. Retrieve your results. The website will return results based on the information you entered. Record financial statement numbers.
You can always check the status of UCC filings against your business through your business credit report or searching UCC lien public records.
A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtor's personal property. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.
Why file a UCC-3 form? The UCC-3 is the Swiss-Army-Knife of forms. Unlike a UCC 1, a UCC 3 can be used for multiple purposes. The actions one can take are Amendment, Assignment, Continuation, and Termination.
After receiving your request, the lender has 20 days to terminate the UCC filing.
UCC liens filed with Secretary of State offices act as a public notice by the "creditor" of the creditor's interest in the property.
In all cases, you should file a UCC-1 with the secretary of state's office in the state where the debtor is incorporated or organized (if a business), or lives (if an individual).