UCC1 - Financing Statement - New Mexico - 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.
Albuquerque New Mexico UCC1 Financing Statement is a legal document used to establish a lien or security interest in personal property. It is governed by the Uniform Commercial Code (UCC) and must be filed with the New Mexico Secretary of State's office to provide public notice of the creditor's claim. The UCC1 Financing Statement in Albuquerque, New Mexico, is used by secured creditors, such as lenders and creditors, to protect their interests in personal property collateral. It enables them to establish their priority in case of borrower default or insolvency. By filing this statement, creditors ensure that their claim is visible to other interested parties, preserving their rights to the collateral. Keywords: Albuquerque New Mexico, UCC1 Financing Statement, legal document, lien, security interest, personal property, Uniform Commercial Code, filed, New Mexico Secretary of State's office, public notice, creditor's claim, secured creditors, lenders, borrower default, insolvency, priority, collateral, interested parties, rights. Different types of UCC1 Financing Statements in Albuquerque, New Mexico, may include: 1. Initial Financing Statement: This is the most common type of UCC1 Financing Statement. It is filed when a creditor initially establishes a security interest in personal property collateral, ensuring their rights and priority in case of default. 2. Amended Financing Statement: When any changes or corrections need to be made to the initial statement, an amended financing statement is filed. This could include updating creditor information, modifying collateral descriptions, or revising the terms of the security agreement. 3. Continuation Financing Statement: This statement is filed to extend the effectiveness of an existing UCC1 Financing Statement, ensuring the creditor's priority doesn't lapse. These are usually filed before the original statement expires, ensuring continuous protection for the creditor's interest. 4. Termination Statement: When a debt is fully paid off or no longer secured by the collateral, a termination statement is filed. It removes the creditor's claim on the personal property and releases any liens or security interests previously established. Keywords: Initial Financing Statement, Amended Financing Statement, Continuation Financing Statement, Termination Statement, changes, corrections, updated creditor information, modified collateral descriptions, revised terms, effectiveness, existing statement, priority, lapse, fully paid off, no longer secured, releases liens, security interests. Remember, seeking legal advice or consulting the New Mexico Secretary of State's office is advisable for accurate and up-to-date information regarding UCC1 Financing Statements in Albuquerque, New Mexico.
Albuquerque New Mexico UCC1 Financing Statement is a legal document used to establish a lien or security interest in personal property. It is governed by the Uniform Commercial Code (UCC) and must be filed with the New Mexico Secretary of State's office to provide public notice of the creditor's claim. The UCC1 Financing Statement in Albuquerque, New Mexico, is used by secured creditors, such as lenders and creditors, to protect their interests in personal property collateral. It enables them to establish their priority in case of borrower default or insolvency. By filing this statement, creditors ensure that their claim is visible to other interested parties, preserving their rights to the collateral. Keywords: Albuquerque New Mexico, UCC1 Financing Statement, legal document, lien, security interest, personal property, Uniform Commercial Code, filed, New Mexico Secretary of State's office, public notice, creditor's claim, secured creditors, lenders, borrower default, insolvency, priority, collateral, interested parties, rights. Different types of UCC1 Financing Statements in Albuquerque, New Mexico, may include: 1. Initial Financing Statement: This is the most common type of UCC1 Financing Statement. It is filed when a creditor initially establishes a security interest in personal property collateral, ensuring their rights and priority in case of default. 2. Amended Financing Statement: When any changes or corrections need to be made to the initial statement, an amended financing statement is filed. This could include updating creditor information, modifying collateral descriptions, or revising the terms of the security agreement. 3. Continuation Financing Statement: This statement is filed to extend the effectiveness of an existing UCC1 Financing Statement, ensuring the creditor's priority doesn't lapse. These are usually filed before the original statement expires, ensuring continuous protection for the creditor's interest. 4. Termination Statement: When a debt is fully paid off or no longer secured by the collateral, a termination statement is filed. It removes the creditor's claim on the personal property and releases any liens or security interests previously established. Keywords: Initial Financing Statement, Amended Financing Statement, Continuation Financing Statement, Termination Statement, changes, corrections, updated creditor information, modified collateral descriptions, revised terms, effectiveness, existing statement, priority, lapse, fully paid off, no longer secured, releases liens, security interests. Remember, seeking legal advice or consulting the New Mexico Secretary of State's office is advisable for accurate and up-to-date information regarding UCC1 Financing Statements in Albuquerque, New Mexico.