North Dakota UCC3 Financing Statement Amendment Addendum
Understanding this form
The North Dakota UCC3 Financing Statement Amendment Addendum is a legal document used to amend an existing financing statement in the state of North Dakota. This addendum is specifically designed for use after July 1, 2001, allowing the filer to update information related to a financing statement, such as changes to the debtor's name or the secured party's details. It is important to note that this form must be filed in the real estate records and is intended to ensure the accuracy of secured transactions in North Dakota.
Key parts of this document
- Section for identifying the amendments being made to the original financing statement.
- Fields for entering the name and address of the debtor and the secured party.
- Space for including the original financing statementâs details, such as file number.
- Section to provide any additional relevant information or notes regarding the amendments.
Situations where this form applies
This form should be used when there are changes that need to be communicated regarding a previously filed financing statement. Common situations include changes in the name or address of the debtor, updates to the secured partyâs information, or adjustments in the collateral description. Using this addendum ensures that the public record accurately reflects the current state of the financing agreement.
Who can use this document
Individuals and businesses involved in secured transactions should consider using this form, including:
- Secured parties who need to update their information.
- Debtors whose names or addresses have changed.
- Legal professionals managing financing statements on behalf of clients.
- Any entity needing to revise existing financing statements to maintain accurate records.
How to complete this form
- Identify the original financing statement by entering the file number.
- Enter the updated name and address for both the debtor and the secured party.
- Specify the exact amendments being made in the appropriate section.
- Provide any additional notes as necessary to clarify the changes.
- Review all entered information for accuracy before submitting the form for filing.
Notarization requirements for this form
Notarization is generally not required for this form. However, certain states or situations might demand it. You can complete notarization online through US Legal Forms, powered by Notarize, using a verified video call available anytime.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes to avoid
- Failing to include the original financing statement file number.
- Not updating all relevant parties' information.
- Omitting additional information or notes that clarify the amendments.
- Neglecting to proofread for typographical errors before submission.
Why use this form online
- Convenient access to the form allows for quick and easy completion.
- Immediate downloads enable users to file documents promptly.
- Pre-drafted templates increase accuracy and reduce errors.
- Access to legal guidance to ensure correct usage of the form.
What to keep in mind
- The North Dakota UCC3 Financing Statement Amendment Addendum is essential for updating financing statements.
- Ensure all information is accurate to maintain public record integrity.
- Utilize this form to avoid legal complications arising from outdated records.
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FAQ
The secured party has 20 days to either terminate the filing or send a termination statement to the debtor that the debtor can then file. If this does not happen within the 20-day time frame, the debtor may file a UCC-3 termination statement.
Rules vary by State around releasing a UCC lien after a borrower satisfied the debt. Primarily there are two main ways to remove them. One way is by having the lender file a UCC-3 Financing Statement Amendment. Another way to remove a UCC filing is by swearing an oath of full payment at the secretary of state office.
After receiving your request, the lender has 20 days to terminate the UCC filing.
When the debtor has satisfied all amounts owed to the lender, a UCC-3 termination statement (now called a UCC termination statement) is routinely filed to terminate the security interest perfected by the UCC-1 financing statement.
A UCC-3 termination statement (a Termination) is a required filing that terminates a security interest that has been perfected by a UCC-1 filing. 1. A Termination for personal property is accomplished by completing and filing form UCC-3 with the Secretary of State's office in the appropriate state.
Also known as a UCC-3, and, depending on the context, a UCC-3 financing statement amendment, a UCC-3 termination statement, and a UCC-3 continuation statement. Under the Uniform Commercial Code, a UCC-3 is used to continue, assign, terminate, or amend an existing UCC-1 financing statement (UCC-1).
When the debtor has satisfied all amounts owed to the lender, a UCC-3 termination statement (now called a UCC termination statement) is routinely filed to terminate the security interest perfected by the UCC-1 financing statement.
