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Oregon UCC-1AP Financing Statement Additional Party

Category:
Secretary of State - Uniform Commercial Code
State:
Oregon
Control #:
OR-SKU-1071
Format:
PDF
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Description

UCC-1AP Financing Statement Additional Party
An Oregon UCC-1AP Financing Statement Additional Party is a form required to be filled out when a secured party is adding a party to the security agreement. This form allows the additional party to be included in the security agreement in order to protect the interest of the secured party should the debtor default. There are three types of Oregon UCC-1AP Financing Statement Additional Parties: the Additional Applicant, Additional Lessor, and Additional Secured Party. The Additional Applicant is the person or organization that is being added to the security agreement. The Additional Lessor is the person or organization that is leasing or granting the security interest to the additional applicant. The Additional Secured Party is the person or organization that is providing the security interest to the additional applicant.

An Oregon UCC-1AP Financing Statement Additional Party is a form required to be filled out when a secured party is adding a party to the security agreement. This form allows the additional party to be included in the security agreement in order to protect the interest of the secured party should the debtor default. There are three types of Oregon UCC-1AP Financing Statement Additional Parties: the Additional Applicant, Additional Lessor, and Additional Secured Party. The Additional Applicant is the person or organization that is being added to the security agreement. The Additional Lessor is the person or organization that is leasing or granting the security interest to the additional applicant. The Additional Secured Party is the person or organization that is providing the security interest to the additional applicant.

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How to fill out Oregon UCC-1AP Financing Statement Additional Party?

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FAQ

Secured party is a lender, seller, or other person in whose favor a security interest exists. Debtor is the person who owes payment or performance of the obligation that is secured. Security agreement is the agreement between the secured party and the debtor that creates or provides for a security interest.

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.

When you pay off a loan, a good rule of thumb is to immediately submit a request with the lender to file a UCC-3 form with your secretary of state. The UCC-3 will terminate the lien on your company's asset (or assets) and remove the UCC-1 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.

Original Financing Statement (UCC1) Subsection (a) (2) provides that the office in which to file a financing statement to perfect a security interest is the office of the Secretary of State in all other cases.

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.

A secured creditor may be the holder of a real estate mortgage, a bank with a lien on all assets, a receivables lender, an equipment lender, or the holder of a statutory lien, among other types of entities.

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More info

If this Additional Party form adds additional Secured Parties, complete items 22 and 23 in accordance with Instruction 3 of Financing Statement (Form UCC1). If this Additional Party adds additional Debtors, complete items 19, 20, and 21 in accordance with Instruction 1 of.Financing Statement (Form UCC1). 22-23. Or Additional Party (Form UCC1AP) and complete applicable items in accordance with Instruction 3 of Financing Statement (Form UCC1). In. Complete ITEM C of the filing form to include a valid email address. Items 1 - 7 — Enter information for Secured Party or Total Assignee, determined and formatted per Instruction 1. To include further additional Secured. Edit, sign, and share UCC Financing Statement Additional Party (Form UCC1AP) online. If this Addendum adds an additional Secured Party, complete item 11 in accordance with Instruction 3 of Financing Statement (Form UCC1). UCC 1AP: National Financing Statement Additional Party and Instructions.

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