Financing Statement for Real Estate and UCC Filing is used as a dual purpose form for recording in real estate records and filing under the UCC provisions with the North Dakota filing office.
Financing Statement for Real Estate and UCC Filing is used as a dual purpose form for recording in real estate records and filing under the UCC provisions with the North Dakota filing office.
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Filer Information. Name and phone number of contact at filer. Email contact at filer. Debtor Information. Organization or individual's name. Mailing address. Secured Party Information. Organization or individual's name. Mailing address. Collateral Information. Description of collateral.
The UCC-1 Financing Statement is filed to protect a lender's or creditor's security interest by giving public notice that there is a right to take possession of and sell certain assets for repayment of a specific debt with a certain debtor.
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).
UCC stands for Uniform Commercial Code. The UCC is a set of laws concerning commercial transactions, such as the sale of goods. It also covers secured transactions, where a lender gains the right to foreclose on a borrower's collateral should the borrower default on the loan. This is also called a security interest.
UCC-1 Financing Statements do not have to be signed by either the Debtor or Secured Party; however, they must be authorized.Although the UCC-1 Financing Statement does not require signatures, any attachment such as the legal description or special terms and conditions may require the signature of the Debtor.
To assign (1) some or all of Assignor's right to amend the identified financing statement, or (2) the Assignor's right to amend the identified financing statement with respect to some (but not all) of the collateral covered by the identified financing statement: Check box in item 3 and enter name of Assignee in item 7a
As the word Uniform in its title suggests, a primary purpose of the UCC is to make business activities more predictable and efficient by making business laws highly consistent across all American states.
A UCC filing, also known as a UCC lien or a UCC-1, is a financing statement which lenders can file against your business with your secretary of state.This might be a piece of equipment, a vehicle, property, or even a blanket lien naming all your assets.