Nebraska UCC Financing Statement Additional Party is a party to the UCC Financing Statement filing in the state of Nebraska. It is typically a third party that has an interest in the collateral that is being used to secure payment of the debt. This party is listed on the UCC Financing Statement and holds a secured interest in the collateral, giving it the right to take possession of the collateral if the debt is not repaid. There are three types of Nebraska UCC Financing Statement Additional Parties: a secured party, a lien holder, and an assignee. A secured party is an entity that holds a security interest in the collateral that is being used to secure the debt. A lien holder is an entity that holds a lien on the collateral, such as a mortgage or deed of trust. An assignee is an entity that holds an assignment of the collateral, such as a lease or contract.
Nebraska UCC Financing Statement Additional Party
Description
How to fill out Nebraska UCC Financing Statement Additional Party?
US Legal Forms is the most simple and affordable way to locate appropriate formal templates. It’s the most extensive web-based library of business and individual legal documentation drafted and checked by lawyers. Here, you can find printable and fillable blanks that comply with federal and local regulations - just like your Nebraska UCC Financing Statement Additional Party.
Obtaining your template requires just a couple of simple steps. Users that already have an account with a valid subscription only need to log in to the website and download the document on their device. Later, they can find it in their profile in the My Forms tab.
And here’s how you can obtain a properly drafted Nebraska UCC Financing Statement Additional Party if you are using US Legal Forms for the first time:
- Read the form description or preview the document to ensure you’ve found the one meeting your demands, or find another one utilizing the search tab above.
- Click Buy now when you’re sure of its compatibility with all the requirements, and judge the subscription plan you like most.
- Register for an account with our service, sign in, and pay for your subscription using PayPal or you credit card.
- Choose the preferred file format for your Nebraska UCC Financing Statement Additional Party and download it on your device with the appropriate button.
After you save a template, you can reaccess it whenever you want - just find it in your profile, re-download it for printing and manual completion or import it to an online editor to fill it out and sign more efficiently.
Benefit from US Legal Forms, your reputable assistant in obtaining the required formal paperwork. Give it a try!
Form popularity
FAQ
A Subordination Agreement is a legal document that confirms that a debt is higher in rank (takes precedence) over another debt. This means that, if the debt is unpaid and the assets of the debtor are sold to paid the debt, the debt with a higher priority is paid first.
A UCC 3 Subordination is a form used when more than one lender has an interest in the same collateral. In this situation, a subordination agreement should be signed in order to establish the order in which the lenders will be refunded the money.
Now, for example, let's say you want to take a second mortgage with Bank#2. Bank#2 will search the Secretary of State records and find that Bank#1 has already lent you money. Bank#2 will not get its money back until Bank#1 has been paid in full so its interest is referred to as "subordinated".
To do so you will generally need to make a trip in person down to your secretary of state's office. Once there, you will be able to swear under oath that you've satisfied the debt in full and wish to request for the UCC-1 filing to be removed.
Assignment When a secured party needs to assign or transfer all or a portion of its rights to the collateral listed in a UCC-1 financing statement. It is considered an alteration of the previous filing.
Assignment When a secured party needs to assign or transfer all or a portion of its rights to the collateral listed in a UCC-1 financing statement. It is considered an alteration of the previous filing.
To put it in simple terms, the secured party is the creditor on the UCC loan. The creditor is the secured party because they have a financial interest in the collateral which the lien is on.
How to complete a UCC1 (Step by Step) 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.