UCC1 - Financing Statement - Colorado - For use after July 1, 2001. This form is a financing statement used to cover certain collateral as specified in the form. This Financing Statement complies will all applicable state laws.
The Thornton Colorado UCC1 Financing Statement is a legally binding document that provides detailed information about a secured transaction between a debtor and a secured party. This statement is filed with the Colorado Secretary of State's office to establish a creditor's claim over the debtor's personal property collateral, granting the secured party a security interest. Keywords: Thornton Colorado, UCC1 Financing Statement, secured transaction, debtor, secured party, personal property collateral, security interest. Types of Thornton Colorado UCC1 Financing Statements: 1. Initial Financing Statement: This type of UCC1 financing statement is filed by a creditor or secured party to establish their first security interest in the debtor's personal property collateral. It outlines important details about the parties involved, the secured obligations, and describes the collateral involved in the transaction. 2. Amendment Financing Statement: An amendment financing statement is filed to make changes or updates to the initial financing statement. It may include modifications to the parties' information, the terms of the security agreement, additional collateral, or the termination of the security interest. 3. Continuation Financing Statement: A continuation financing statement is filed to extend the validity period of the initial financing statement. Under the Uniform Commercial Code (UCC), a financing statement typically remains effective for a specific period (generally five years), after which it expires. Filing a continuation prolongs the effectiveness of the original filing. 4. Termination Financing Statement: This type of UCC1 financing statement is filed when a secured party no longer wants to retain their security interest in the debtor's collateral. It serves to officially terminate the security agreement and remove the lien or claim over the personal property. This statement provides public notice that the security interest has been released. 5. Assignment Financing Statement: An assignment financing statement is filed when a secured party decides to transfer its rights or interest in a security agreement to another party. It serves as public notice of the assignment and enables the assignee to take over the rights and obligations of the initial secured party. 6. Release of Debtor Financing Statement: Occasionally, a debtor may need to file a release of debtor financing statement to provide public notice of their satisfaction or payment of the secured obligation. This statement confirms that the debtor has fulfilled its obligations, and the security interest has been released. In summary, the Thornton Colorado UCC1 Financing Statement is a crucial legal document that outlines the terms, parties involved, and collateral associated with a secured transaction. Various types of UCC1 financing statements serve different purposes, such as initiating, modifying, extending, terminating, or assigning the security interest. Filing these statements with the Colorado Secretary of State's office ensures transparency and protects the rights of both debtors and secured parties.The Thornton Colorado UCC1 Financing Statement is a legally binding document that provides detailed information about a secured transaction between a debtor and a secured party. This statement is filed with the Colorado Secretary of State's office to establish a creditor's claim over the debtor's personal property collateral, granting the secured party a security interest. Keywords: Thornton Colorado, UCC1 Financing Statement, secured transaction, debtor, secured party, personal property collateral, security interest. Types of Thornton Colorado UCC1 Financing Statements: 1. Initial Financing Statement: This type of UCC1 financing statement is filed by a creditor or secured party to establish their first security interest in the debtor's personal property collateral. It outlines important details about the parties involved, the secured obligations, and describes the collateral involved in the transaction. 2. Amendment Financing Statement: An amendment financing statement is filed to make changes or updates to the initial financing statement. It may include modifications to the parties' information, the terms of the security agreement, additional collateral, or the termination of the security interest. 3. Continuation Financing Statement: A continuation financing statement is filed to extend the validity period of the initial financing statement. Under the Uniform Commercial Code (UCC), a financing statement typically remains effective for a specific period (generally five years), after which it expires. Filing a continuation prolongs the effectiveness of the original filing. 4. Termination Financing Statement: This type of UCC1 financing statement is filed when a secured party no longer wants to retain their security interest in the debtor's collateral. It serves to officially terminate the security agreement and remove the lien or claim over the personal property. This statement provides public notice that the security interest has been released. 5. Assignment Financing Statement: An assignment financing statement is filed when a secured party decides to transfer its rights or interest in a security agreement to another party. It serves as public notice of the assignment and enables the assignee to take over the rights and obligations of the initial secured party. 6. Release of Debtor Financing Statement: Occasionally, a debtor may need to file a release of debtor financing statement to provide public notice of their satisfaction or payment of the secured obligation. This statement confirms that the debtor has fulfilled its obligations, and the security interest has been released. In summary, the Thornton Colorado UCC1 Financing Statement is a crucial legal document that outlines the terms, parties involved, and collateral associated with a secured transaction. Various types of UCC1 financing statements serve different purposes, such as initiating, modifying, extending, terminating, or assigning the security interest. Filing these statements with the Colorado Secretary of State's office ensures transparency and protects the rights of both debtors and secured parties.
