Bronx New York UCC1 Financing Statement Addendum

• Category: New York Secretary of State - Uniform Commercial Code
• State: New York
• County: Bronx
• Control #: NY-UCC1-A
• Format: Word; PDF; Rich Text

Description

UCC1 - Financing Statement Addendum - New York - 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. The Bronx, New York UCC1 Financing Statement Addendum is a legal document that serves as an extension or amendment to the UCC1 Financing Statement in relation to securing a loan or financial transaction. This document provides additional information or clarification to the original UCC1 filing to ensure accuracy and completeness. Keywords: Bronx New York, UCC1 Financing Statement, Addendum, legal document, extension, amendment, securing a loan, financial transaction, additional information, clarification, accuracy, completeness. Different types of Bronx New York UCC1 Financing Statement Addendum may include: 1. Collateral Description Addendum: This type of addendum is used when further clarification or specification of the collateral is required. It provides detailed information about the specific assets or property that secures the loan, such as serial numbers, specifications, or descriptions. 2. Amendment Addendum: An amendment addendum is utilized when changes need to be made to the original UCC1 Financing Statement. This can include modifications to debtor information, creditor information, or changes pertaining to the collateral. 3. Continuation Addendum: When there is a need to extend the duration of a UCC1 Financing Statement beyond its original expiration date, a continuation addendum is filed. This ensures that the security interest remains active and the creditor's priority is maintained. 4. Termination Addendum: A termination addendum is used when the UCC1 Financing Statement is no longer valid or the underlying loan has been paid off. It serves as a formal notice of conclusion of the security interest and removes the lien on the collateral. 5. Assignment Addendum: In instances where the secured party transfers their interest in the UCC1 Financing Statement to another party, an assignment addendum is filed. This document legally documents the transfer of the security interest and notifies all relevant parties. These various types of Bronx New York UCC1 Financing Statement Addendum ensure that lenders and borrowers have a comprehensive and accurate record of their financial agreements, allowing for clarity, protection, and efficient management of secured transactions.

The Bronx, New York UCC1 Financing Statement Addendum is a legal document that serves as an extension or amendment to the UCC1 Financing Statement in relation to securing a loan or financial transaction. This document provides additional information or clarification to the original UCC1 filing to ensure accuracy and completeness. Keywords: Bronx New York, UCC1 Financing Statement, Addendum, legal document, extension, amendment, securing a loan, financial transaction, additional information, clarification, accuracy, completeness. Different types of Bronx New York UCC1 Financing Statement Addendum may include: 1. Collateral Description Addendum: This type of addendum is used when further clarification or specification of the collateral is required. It provides detailed information about the specific assets or property that secures the loan, such as serial numbers, specifications, or descriptions. 2. Amendment Addendum: An amendment addendum is utilized when changes need to be made to the original UCC1 Financing Statement. This can include modifications to debtor information, creditor information, or changes pertaining to the collateral. 3. Continuation Addendum: When there is a need to extend the duration of a UCC1 Financing Statement beyond its original expiration date, a continuation addendum is filed. This ensures that the security interest remains active and the creditor's priority is maintained. 4. Termination Addendum: A termination addendum is used when the UCC1 Financing Statement is no longer valid or the underlying loan has been paid off. It serves as a formal notice of conclusion of the security interest and removes the lien on the collateral. 5. Assignment Addendum: In instances where the secured party transfers their interest in the UCC1 Financing Statement to another party, an assignment addendum is filed. This document legally documents the transfer of the security interest and notifies all relevant parties. These various types of Bronx New York UCC1 Financing Statement Addendum ensure that lenders and borrowers have a comprehensive and accurate record of their financial agreements, allowing for clarity, protection, and efficient management of secured transactions.