Ann Arbor Michigan UCC1 Financing Statement Addendum

• Category: Michigan Secretary of State - Uniform Commercial Code
• State: Michigan
• City: Ann Arbor
• Control #: MI-UCC1-A
• Format: PDF

Description

UCC1 - Financing Statement Addendum - Michigan - For use after July 1, 2001. This form permits you to add an additional debtor if necessary to cover collateral as specified in the statement. Ann Arbor Michigan UCC1 Financing Statement Addendum is a legal document that supplements the UCC1 Financing Statement, providing additional information or modifications regarding a secured transaction in Ann Arbor, Michigan. This filing is governed by the Michigan Uniform Commercial Code (UCC) and plays a crucial role in documenting and perfecting security interests, ensuring lenders and creditors have priority over others in case of default or bankruptcy. The primary purpose of the Ann Arbor Michigan UCC1 Financing Statement Addendum is to provide specific details about the collateral, debtor, secured party, or any additional provisions relevant to the secured transaction. By attaching this addendum to the original UCC1 Financing Statement, further clarity and accuracy are achieved, protecting the interests of all parties involved. Keywords: Ann Arbor Michigan, UCC1 Financing Statement Addendum, legal document, UCC1 Financing Statement, secured transaction, Michigan Uniform Commercial Code, documentation, perfecting security interests, lenders, creditors, priority, default, bankruptcy, collateral, debtor, secured party, provisions. While the specific content of the addendum may vary depending on the transaction and circumstances, some common types of Ann Arbor Michigan UCC1 Financing Statement Addendums include: 1. Collateral Description Addendum: This type of addendum provides a more detailed and comprehensive description of the collateral used to secure the transaction. It includes specific details such as make, model, serial number, quantity, or any other relevant identifiers. 2. Debtor Information Addendum: When the original UCC1 Financing Statement lacks complete or accurate information about the debtor, this addendum is utilized to provide additional details such as legal name, address, social security number, or organizational identification number. It ensures that the debtor can be properly identified and their obligations can be enforced. 3. Secured Party Information Addendum: In situations where changes occur in the secured party's information, such as a name change, address change, or assignment of rights, this addendum is used to update and reflect those modifications. It guarantees that the appropriate party can assert its rights over the collateral. 4. Amendment Addendum: If any changes or amendments need to be made to the original UCC1 Financing Statement, an amendment addendum is attached, outlining the specific modifications made. This could involve changes in the collateral description, debtor information, secured party information, or any other relevant details. Note that these are examples of commonly used Ann Arbor Michigan UCC1 Financing Statement Addendum types, and the specific requirements may vary based on the transaction and legal circumstances.

Ann Arbor Michigan UCC1 Financing Statement Addendum is a legal document that supplements the UCC1 Financing Statement, providing additional information or modifications regarding a secured transaction in Ann Arbor, Michigan. This filing is governed by the Michigan Uniform Commercial Code (UCC) and plays a crucial role in documenting and perfecting security interests, ensuring lenders and creditors have priority over others in case of default or bankruptcy. The primary purpose of the Ann Arbor Michigan UCC1 Financing Statement Addendum is to provide specific details about the collateral, debtor, secured party, or any additional provisions relevant to the secured transaction. By attaching this addendum to the original UCC1 Financing Statement, further clarity and accuracy are achieved, protecting the interests of all parties involved. Keywords: Ann Arbor Michigan, UCC1 Financing Statement Addendum, legal document, UCC1 Financing Statement, secured transaction, Michigan Uniform Commercial Code, documentation, perfecting security interests, lenders, creditors, priority, default, bankruptcy, collateral, debtor, secured party, provisions. While the specific content of the addendum may vary depending on the transaction and circumstances, some common types of Ann Arbor Michigan UCC1 Financing Statement Addendums include: 1. Collateral Description Addendum: This type of addendum provides a more detailed and comprehensive description of the collateral used to secure the transaction. It includes specific details such as make, model, serial number, quantity, or any other relevant identifiers. 2. Debtor Information Addendum: When the original UCC1 Financing Statement lacks complete or accurate information about the debtor, this addendum is utilized to provide additional details such as legal name, address, social security number, or organizational identification number. It ensures that the debtor can be properly identified and their obligations can be enforced. 3. Secured Party Information Addendum: In situations where changes occur in the secured party's information, such as a name change, address change, or assignment of rights, this addendum is used to update and reflect those modifications. It guarantees that the appropriate party can assert its rights over the collateral. 4. Amendment Addendum: If any changes or amendments need to be made to the original UCC1 Financing Statement, an amendment addendum is attached, outlining the specific modifications made. This could involve changes in the collateral description, debtor information, secured party information, or any other relevant details. Note that these are examples of commonly used Ann Arbor Michigan UCC1 Financing Statement Addendum types, and the specific requirements may vary based on the transaction and legal circumstances.