UCC1 - Financing Statement - Georgia - 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 South Fulton Georgia UCC1 Financing Statement is a legal document used to establish a creditor's interest in personal property as collateral for the repayment of a loan. It is governed by the Uniform Commercial Code (UCC) and is filed with the Office of the South Fulton County Clerk. A UCC1 Financing Statement serves as a public notice, providing details about the creditor, debtor, and the collateral being used as security. It discloses essential information required to recognize any potential encumbrances on personal property, ensuring transparency and protecting the rights of both creditors and debtors. Keywords: South Fulton Georgia, UCC1 Financing Statement, legal document, creditor's interest, personal property, collateral, loan repayment, Uniform Commercial Code, Office of the South Fulton County Clerk, public notice, encumbrances, transparency, creditor, debtor. In South Fulton Georgia, there may be different types or variations of UCC1 Financing Statements, including: 1. General UCC1 Financing Statement: This is the most common type used to claim a security interest in personal property. It covers a broad range of collateral and typically provides a detailed description of the property. 2. Specific UCC1 Financing Statement: Unlike a general statement, a specific statement focuses on particular property or assets. It provides more specific information and may identify individual items by their unique identifiers or serial numbers. 3. Amended UCC1 Financing Statement: This type is used to modify or update an existing financing statement. It may involve changes to debtor or secured party information, collateral being claimed, or other amendments to the original filing. 4. Termination UCC1 Financing Statement: Once a loan is paid off or the underlying debt is satisfied, a termination statement is filed to release the secured party's interest in the collateral. This ensures the debtor's property is no longer encumbered by the security interest. Keywords: General UCC1 Financing Statement, Specific UCC1 Financing Statement, Amended UCC1 Financing Statement, Termination UCC1 Financing Statement, security interest, personal property, collateral, detailed description, modified, updated, debtor, secured party, underlying debt.
