New Hampshire Sample Letter for UCC-3 Termination Statement

• Category: Letters - Legal - UCC
• State: Multi-State
• Control #: US-0186LTR
• Format: Word; Rich Text

Description

This form is a sample letter in Word format covering the subject matter of the title of the form. New Hampshire Sample Letter for UCC-3 Termination Statement A UCC-3 Termination Statement is a legal document used to terminate a previously filed UCC-1 Financing Statement in New Hampshire. This statement is crucial when a debtor has paid off a loan or when the secured party no longer has an interest in the collateral. In New Hampshire, the UCC-3 Termination Statement must follow specific guidelines outlined by the New Hampshire Secretary of State's office. It is important to ensure accuracy and completeness when drafting this document to avoid complications and potential financial liabilities. There are several types of UCC-3 Termination Statements in New Hampshire, serving different purposes. Some of these include: 1. Absolute Termination: This type of termination statement is used when the secured party wants to terminate all secured interests in the collateral, indicating that the entire debt has been paid off or satisfied. The debtor's name, secured party's name, and original financing statement information must be accurately included. 2. Partial Termination: In cases where only a portion of the debt has been paid off or satisfied, a partial termination statement is used. This statement identifies the collateral or specific property that is being released from the original financing statement, while the remaining assets are still subject to the original filing. 3. Assignment Termination: When there is a transfer or assignment of the secured party's interest in the collateral to another party, an assignment termination statement is filed. This document serves to terminate the original financing statement and acknowledges the change in the secured party's position. It is essential to complete the UCC-3 Termination Statement accurately, using the official form provided by the New Hampshire Secretary of State's office. The following information must be included: 1. The debtor's name and address as it appears on the original financing statement. 2. The secured party's name and address as it appears on the original financing statement. 3. The original filing number and date of the UCC-1 Financing Statement. 4. A clear statement indicating the nature of the termination (absolute, partial, or assignment). 5. A description of the collateral or property being released or assigned. 6. The signature of the secured party, along with their printed name and contact information. 7. Any additional required information or attachments as specified by the New Hampshire Secretary of State's office. Once completed, the UCC-3 Termination Statement must be filed with the New Hampshire Secretary of State's office, along with any applicable filing fees. It is essential to keep a copy of the termination statement for your records and to provide a copy to the debtor for their reference. Filing a UCC-3 Termination Statement in New Hampshire ensures that all parties involved in a financing agreement are aware of the release or assignment of the secured interest in the collateral. It offers protection and clarity in financial transactions and helps maintain accurate public records.

New Hampshire Sample Letter for UCC-3 Termination Statement A UCC-3 Termination Statement is a legal document used to terminate a previously filed UCC-1 Financing Statement in New Hampshire. This statement is crucial when a debtor has paid off a loan or when the secured party no longer has an interest in the collateral. In New Hampshire, the UCC-3 Termination Statement must follow specific guidelines outlined by the New Hampshire Secretary of State's office. It is important to ensure accuracy and completeness when drafting this document to avoid complications and potential financial liabilities. There are several types of UCC-3 Termination Statements in New Hampshire, serving different purposes. Some of these include: 1. Absolute Termination: This type of termination statement is used when the secured party wants to terminate all secured interests in the collateral, indicating that the entire debt has been paid off or satisfied. The debtor's name, secured party's name, and original financing statement information must be accurately included. 2. Partial Termination: In cases where only a portion of the debt has been paid off or satisfied, a partial termination statement is used. This statement identifies the collateral or specific property that is being released from the original financing statement, while the remaining assets are still subject to the original filing. 3. Assignment Termination: When there is a transfer or assignment of the secured party's interest in the collateral to another party, an assignment termination statement is filed. This document serves to terminate the original financing statement and acknowledges the change in the secured party's position. It is essential to complete the UCC-3 Termination Statement accurately, using the official form provided by the New Hampshire Secretary of State's office. The following information must be included: 1. The debtor's name and address as it appears on the original financing statement. 2. The secured party's name and address as it appears on the original financing statement. 3. The original filing number and date of the UCC-1 Financing Statement. 4. A clear statement indicating the nature of the termination (absolute, partial, or assignment). 5. A description of the collateral or property being released or assigned. 6. The signature of the secured party, along with their printed name and contact information. 7. Any additional required information or attachments as specified by the New Hampshire Secretary of State's office. Once completed, the UCC-3 Termination Statement must be filed with the New Hampshire Secretary of State's office, along with any applicable filing fees. It is essential to keep a copy of the termination statement for your records and to provide a copy to the debtor for their reference. Filing a UCC-3 Termination Statement in New Hampshire ensures that all parties involved in a financing agreement are aware of the release or assignment of the secured interest in the collateral. It offers protection and clarity in financial transactions and helps maintain accurate public records.