Connecticut Exhibit to UCC-1 Financing Statement regarding a Fixture Filing for a Commercial Loan

• Category: Loans and Lending
• State: Multi-State
• Control #: US-1177BG
• Format: Word; Rich Text

Description

A security interest is an interest in personal property or fixtures that secures payment or performance of an obligation. Personal property is basically anything that is not real property. Connecticut Exhibit to UCC-1 Financing Statement regarding a Fixture Filing for a Commercial Loan In Connecticut, when filing a UCC-1 Financing Statement for a commercial loan that involves fixtures, it is necessary to include additional information specific to the state. This information is referred to as the "Connecticut Exhibit" and provides important details related to the fixture filing. The purpose of this exhibit is to fulfill the requirements set forth by Connecticut law and ensure proper notice and protection for all parties involved. The Connecticut Exhibit to the UCC-1 Financing Statement regarding a Fixture Filing for a Commercial Loan consists of the following essential elements: 1. Debtor's Name and Address: The exact legal name of the debtor, as well as their address, must be provided. Accuracy in this section is crucial to ensure proper identification of the party. 2. Secured Party's Name and Address: The secured party, typically the lender, must also be named along with their address. This information provides clarity and enables others to locate the party associated with the security interest. 3. Description of the Collateral: The collateral description should be provided in detail, emphasizing the fixtures involved. Fixtures refer to goods that become attached to real estate, such as machinery, equipment, or appliances that are essential to the functionality of a commercial property. 4. Property Location: The specific location of the commercial property where the fixtures are attached must be provided. This includes the street address, city, and county where the property is situated. 5. Legal Description: A legal description of the real estate property, such as the lot of number, block number, or any other identification method used in local property records, must be included. This assists in clearly identifying the property associated with the fixture filing. 6. UCC-1 Reference: A reference must be made to the UCC-1 Financing Statement to which this Connecticut Exhibit is attached. This ensures that the exhibit is properly linked to the initial filing and avoids any confusion. Additional types or variations of the Connecticut Exhibit to the UCC-1 Financing Statement regarding a Fixture Filing for a Commercial Loan may exist based on specific circumstances or requirements. For instance, if there are multiple debtors or secured parties involved, additional sections may be added to reflect these parties' information accurately. In conclusion, when filing a UCC-1 Financing Statement in Connecticut for a commercial loan involving fixtures, it is crucial to include the Connecticut Exhibit. This exhibit contains essential details such as the debtor's and secured party's information, a comprehensive description of the fixtures, the property location and legal description, and a reference to the UCC-1 Financing Statement. By including this exhibit, lenders ensure compliance with Connecticut law and provide proper notice to interested parties, protecting their security interest in the fixtures.

Connecticut Exhibit to UCC-1 Financing Statement regarding a Fixture Filing for a Commercial Loan In Connecticut, when filing a UCC-1 Financing Statement for a commercial loan that involves fixtures, it is necessary to include additional information specific to the state. This information is referred to as the "Connecticut Exhibit" and provides important details related to the fixture filing. The purpose of this exhibit is to fulfill the requirements set forth by Connecticut law and ensure proper notice and protection for all parties involved. The Connecticut Exhibit to the UCC-1 Financing Statement regarding a Fixture Filing for a Commercial Loan consists of the following essential elements: 1. Debtor's Name and Address: The exact legal name of the debtor, as well as their address, must be provided. Accuracy in this section is crucial to ensure proper identification of the party. 2. Secured Party's Name and Address: The secured party, typically the lender, must also be named along with their address. This information provides clarity and enables others to locate the party associated with the security interest. 3. Description of the Collateral: The collateral description should be provided in detail, emphasizing the fixtures involved. Fixtures refer to goods that become attached to real estate, such as machinery, equipment, or appliances that are essential to the functionality of a commercial property. 4. Property Location: The specific location of the commercial property where the fixtures are attached must be provided. This includes the street address, city, and county where the property is situated. 5. Legal Description: A legal description of the real estate property, such as the lot of number, block number, or any other identification method used in local property records, must be included. This assists in clearly identifying the property associated with the fixture filing. 6. UCC-1 Reference: A reference must be made to the UCC-1 Financing Statement to which this Connecticut Exhibit is attached. This ensures that the exhibit is properly linked to the initial filing and avoids any confusion. Additional types or variations of the Connecticut Exhibit to the UCC-1 Financing Statement regarding a Fixture Filing for a Commercial Loan may exist based on specific circumstances or requirements. For instance, if there are multiple debtors or secured parties involved, additional sections may be added to reflect these parties' information accurately. In conclusion, when filing a UCC-1 Financing Statement in Connecticut for a commercial loan involving fixtures, it is crucial to include the Connecticut Exhibit. This exhibit contains essential details such as the debtor's and secured party's information, a comprehensive description of the fixtures, the property location and legal description, and a reference to the UCC-1 Financing Statement. By including this exhibit, lenders ensure compliance with Connecticut law and provide proper notice to interested parties, protecting their security interest in the fixtures.