A Washington UCC Financing Statement Additional Party is a person or entity other than the debtor and secured party listed on a UCC Financing Statement. This additional party is listed on the filing as a third-party claimant with potential rights to the collateral listed on the UCC Financing Statement. The purpose of listing an additional party on a UCC Financing Statement is to provide notice to the additional party of the secured party’s interest in the collateral. There are two types of Washington UCC Financing Statement Additional Parties: Priority Additional Parties and Collateral Additional Parties. A Priority Additional Party is a person or entity that has a security interest in the collateral that has priority over the security interest of the secured party listed on the UCC Financing Statement. A Collateral Additional Party is a person or entity that has a security interest in the collateral but does not have priority over the security interest of the secured party listed on the UCC Financing Statement.
Washington UCC Financing Statement Additional Party
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How to fill out Washington UCC Financing Statement Additional Party?
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