Gresham Oregon Ucc Financing Statement Amendment

• Category: Oregon Court Samples - Uniform Laws - Commercial Code - Financing Statements - Samples
• State: Oregon
• City: Gresham
• Control #: OR-HJ-345-01
• Format: PDF

Description

Ucc Financing Statement Amendment The Gresham Oregon UCC Financing Statement Amendment refers to a legal document used to modify or update the information contained in an existing Uniform Commercial Code (UCC) financing statement filed in Gresham, Oregon. This amendment plays a crucial role in ensuring accurate records and maintaining the priority of a secured party's interest in collateral. When a creditor or secured party initially files a UCC financing statement to establish a security interest in a debtor's property, it serves as a public notice that the creditor has a claim upon the specified collateral. However, certain circumstances might require changes or updates to be made to the original filing, and this is when the Gresham Oregon UCC Financing Statement Amendment becomes necessary. There are various types of amendments that can be made to a UCC financing statement in Gresham, Oregon, including: 1. Change in debtor information: If the debtor's legal name has changed, or if there were errors or omissions in the initial filing, an amendment can be filed to correct and update the debtor's information. This ensures that the secured party's interest remains properly recorded and enforceable. 2. Addition or removal of collateral description: Sometimes, the original filing may not accurately describe the collateral being secured, or additional collateral may need to be included. By filing an amendment, the secured party can add or remove specific collateral details to provide an accurate representation of the security interest. 3. Change in secured party information: In case of changes to the secured party's name, address, or any other relevant information, an amendment is filed to reflect the updated details. This ensures the accuracy of both the debtor and secured party information, allowing for proper identification and communication. 4. Termination of the financing statement: When the debt has been satisfied, or the underlying obligation has been fulfilled, the secured party must file an amendment to terminate the financing statement. This effectively removes the security interest and releases the debtor from any further obligations. Completing a Gresham Oregon UCC Financing Statement Amendment involves preparing the necessary documentation, including the original filing number, details of the amendment, and any supporting evidence. It is essential to follow the correct filing procedures and pay the applicable fees to ensure the amendment's validity. In summary, the Gresham Oregon UCC Financing Statement Amendment is a crucial legal document used to modify, correct, or update the information contained in an existing UCC financing statement filed in Gresham, Oregon. It encompasses various types of amendments such as changes in debtor or secured party information, additions or removals of collateral description, and termination of the financing statement. Ensuring accurate and up-to-date filings is vital for maintaining the integrity of secured transactions and protecting the rights of both debtors and secured parties.

The Gresham Oregon UCC Financing Statement Amendment refers to a legal document used to modify or update the information contained in an existing Uniform Commercial Code (UCC) financing statement filed in Gresham, Oregon. This amendment plays a crucial role in ensuring accurate records and maintaining the priority of a secured party's interest in collateral. When a creditor or secured party initially files a UCC financing statement to establish a security interest in a debtor's property, it serves as a public notice that the creditor has a claim upon the specified collateral. However, certain circumstances might require changes or updates to be made to the original filing, and this is when the Gresham Oregon UCC Financing Statement Amendment becomes necessary. There are various types of amendments that can be made to a UCC financing statement in Gresham, Oregon, including: 1. Change in debtor information: If the debtor's legal name has changed, or if there were errors or omissions in the initial filing, an amendment can be filed to correct and update the debtor's information. This ensures that the secured party's interest remains properly recorded and enforceable. 2. Addition or removal of collateral description: Sometimes, the original filing may not accurately describe the collateral being secured, or additional collateral may need to be included. By filing an amendment, the secured party can add or remove specific collateral details to provide an accurate representation of the security interest. 3. Change in secured party information: In case of changes to the secured party's name, address, or any other relevant information, an amendment is filed to reflect the updated details. This ensures the accuracy of both the debtor and secured party information, allowing for proper identification and communication. 4. Termination of the financing statement: When the debt has been satisfied, or the underlying obligation has been fulfilled, the secured party must file an amendment to terminate the financing statement. This effectively removes the security interest and releases the debtor from any further obligations. Completing a Gresham Oregon UCC Financing Statement Amendment involves preparing the necessary documentation, including the original filing number, details of the amendment, and any supporting evidence. It is essential to follow the correct filing procedures and pay the applicable fees to ensure the amendment's validity. In summary, the Gresham Oregon UCC Financing Statement Amendment is a crucial legal document used to modify, correct, or update the information contained in an existing UCC financing statement filed in Gresham, Oregon. It encompasses various types of amendments such as changes in debtor or secured party information, additions or removals of collateral description, and termination of the financing statement. Ensuring accurate and up-to-date filings is vital for maintaining the integrity of secured transactions and protecting the rights of both debtors and secured parties.