Detroit Michigan UCC3 Financing Statement Amendment

• Category: Michigan Secretary of State - Uniform Commercial Code
• State: Michigan
• City: Detroit
• Control #: MI-UCC3
• Format: PDF

Description

UCC3 - Financing Statement Amendment - Michigan - For use after July 1, 2001. This amendment is to be filed in the real estate records. This Financing Statement complies with all applicable state statutes. The Detroit Michigan UCC3 Financing Statement Amendment refers to a legal document that is filed to make changes or updates to an existing UCC3 Financing Statement in the state of Michigan, specifically within the jurisdiction of Detroit. UCC stands for the Uniform Commercial Code, which is a standardized set of laws governing commercial transactions in the United States. A UCC3 Financing Statement is initially filed to provide notice to the public about a secured party's interest in specific collateral pledged by a debtor to secure a loan. This statement is used to establish priority among lenders and to protect the interests of secured parties. However, there are situations where it becomes necessary to modify or amend the original UCC3 Financing Statement. This may occur when there is a change in the debtor's name, address, or other identifying information, a change in the secured party's information, or when a collateral item is added or removed from the original statement. In the case of Detroit, Michigan, several types of UCC3 Financing Statement Amendments can be filed depending on the specific changes that need to be made. Some common types include: 1. Amendment Changing Debtor Information: This amendment is filed when there are changes in the debtor's name, address, or other identifying information. It ensures that the UCC3 Financing Statement accurately reflects the updated details of the debtor. 2. Amendment Changing Secured Party Information: This amendment is filed when there are changes in the secured party's information. It updates the UCC3 Financing Statement to reflect the correct identifying information of the secured party. 3. Amendment adding or removing collateral: In certain cases, there might be a need to add or remove collateral from the original UCC3 Financing Statement. This amendment is filed to reflect these changes accurately. It is important to note that these are just a few examples of common UCC3 Financing Statement Amendments, and there may be other types depending on the specific circumstances. To file a Detroit Michigan UCC3 Financing Statement Amendment, one must follow the specific guidelines and procedures set forth by the relevant authorities and ensure compliance with UCC regulations. Consulting with legal professionals or experts in this field is highly recommended ensuring accuracy and adherence to the required processes.

The Detroit Michigan UCC3 Financing Statement Amendment refers to a legal document that is filed to make changes or updates to an existing UCC3 Financing Statement in the state of Michigan, specifically within the jurisdiction of Detroit. UCC stands for the Uniform Commercial Code, which is a standardized set of laws governing commercial transactions in the United States. A UCC3 Financing Statement is initially filed to provide notice to the public about a secured party's interest in specific collateral pledged by a debtor to secure a loan. This statement is used to establish priority among lenders and to protect the interests of secured parties. However, there are situations where it becomes necessary to modify or amend the original UCC3 Financing Statement. This may occur when there is a change in the debtor's name, address, or other identifying information, a change in the secured party's information, or when a collateral item is added or removed from the original statement. In the case of Detroit, Michigan, several types of UCC3 Financing Statement Amendments can be filed depending on the specific changes that need to be made. Some common types include: 1. Amendment Changing Debtor Information: This amendment is filed when there are changes in the debtor's name, address, or other identifying information. It ensures that the UCC3 Financing Statement accurately reflects the updated details of the debtor. 2. Amendment Changing Secured Party Information: This amendment is filed when there are changes in the secured party's information. It updates the UCC3 Financing Statement to reflect the correct identifying information of the secured party. 3. Amendment adding or removing collateral: In certain cases, there might be a need to add or remove collateral from the original UCC3 Financing Statement. This amendment is filed to reflect these changes accurately. It is important to note that these are just a few examples of common UCC3 Financing Statement Amendments, and there may be other types depending on the specific circumstances. To file a Detroit Michigan UCC3 Financing Statement Amendment, one must follow the specific guidelines and procedures set forth by the relevant authorities and ensure compliance with UCC regulations. Consulting with legal professionals or experts in this field is highly recommended ensuring accuracy and adherence to the required processes.