Correction Statement used to report inaccurate or wrongly filed records (as designated in the form) on file with the Minnesota filing office.
The Saint Paul Minnesota UCC5 Correction Statement is a legal document used to correct errors, omissions, or inaccuracies within a previously filed Uniform Commercial Code (UCC) filing in the state of Minnesota. It is crucial to rectify any mistakes promptly to ensure that the UCC filing accurately represents the secured party's intentions and protects their interests in the collateral associated with a specific debtor. Keywords: Saint Paul, Minnesota, UCC5 Correction Statement, legal document, errors, omissions, inaccuracies, Uniform Commercial Code, UCC filing, rectify, secured party, collateral, debtor. Types of Saint Paul Minnesota UCC5 Correction Statements: 1. Clerical Errors Correction Statement — This type of correction statement is used to rectify minor typographical errors, such as misspelled names, incorrect addresses, or data entry mistakes. 2. Amendment Statement — An amendment statement is filed when changes need to be made to the original UCC filing, such as modifications to the debtor's information, amendments to the collateral description, or additions/deletions of secured parties. 3. Continuation Statement — If the original UCC filing is nearing its expiration, a continuation statement is filed to extend the effectiveness of the filing. It ensures that the secured party maintains their priority rights over the collateral for an additional period, typically five years. 4. Termination Statement — A termination statement is utilized when the secured party wants to officially end the effectiveness of a UCC filing. It signifies that the debt has been satisfied, the collateral has been released, or the secured party's interests have been transferred to another party. 5. Affidavit of Correction — This type of correction statement is employed when the error in the original UCC filing is substantial or requires additional explanation. An affidavit of correction is a sworn statement providing detailed information about the error and the necessary corrections. 6. Addendum Statement — An addendum statement is used when additional information needs to be added to the existing UCC filing without modifying the original filing. It can include supplementary details about the secured party, debtor, or collateral that was not initially included in the initial filing. Keywords: Clerical Errors Correction Statement, Amendment Statement, Continuation Statement, Termination Statement, Affidavit of Correction, Addendum Statement.The Saint Paul Minnesota UCC5 Correction Statement is a legal document used to correct errors, omissions, or inaccuracies within a previously filed Uniform Commercial Code (UCC) filing in the state of Minnesota. It is crucial to rectify any mistakes promptly to ensure that the UCC filing accurately represents the secured party's intentions and protects their interests in the collateral associated with a specific debtor. Keywords: Saint Paul, Minnesota, UCC5 Correction Statement, legal document, errors, omissions, inaccuracies, Uniform Commercial Code, UCC filing, rectify, secured party, collateral, debtor. Types of Saint Paul Minnesota UCC5 Correction Statements: 1. Clerical Errors Correction Statement — This type of correction statement is used to rectify minor typographical errors, such as misspelled names, incorrect addresses, or data entry mistakes. 2. Amendment Statement — An amendment statement is filed when changes need to be made to the original UCC filing, such as modifications to the debtor's information, amendments to the collateral description, or additions/deletions of secured parties. 3. Continuation Statement — If the original UCC filing is nearing its expiration, a continuation statement is filed to extend the effectiveness of the filing. It ensures that the secured party maintains their priority rights over the collateral for an additional period, typically five years. 4. Termination Statement — A termination statement is utilized when the secured party wants to officially end the effectiveness of a UCC filing. It signifies that the debt has been satisfied, the collateral has been released, or the secured party's interests have been transferred to another party. 5. Affidavit of Correction — This type of correction statement is employed when the error in the original UCC filing is substantial or requires additional explanation. An affidavit of correction is a sworn statement providing detailed information about the error and the necessary corrections. 6. Addendum Statement — An addendum statement is used when additional information needs to be added to the existing UCC filing without modifying the original filing. It can include supplementary details about the secured party, debtor, or collateral that was not initially included in the initial filing. Keywords: Clerical Errors Correction Statement, Amendment Statement, Continuation Statement, Termination Statement, Affidavit of Correction, Addendum Statement.
