Gresham Oregon UCC Financing Statement

• Category: Oregon Court Samples - Uniform Laws - Commercial Code
• State: Oregon
• City: Gresham
• Control #: OR-HJ-651
• Format: PDF

Description

UCC Financing Statement The Gresham Oregon UCC Financing Statement is a legal document that provides a way for creditors to publicly claim their interest in a debtor's personal property to secure a loan or transaction. It is governed by the Uniform Commercial Code (UCC), which sets out rules and guidelines for transactions involving personal property. This financing statement serves as a public notice, alerting other creditors about a specific creditor's claim on the debtor's property. It helps establish a priority order in case of bankruptcy, insolvency, or default. The Gresham Oregon UCC Financing Statement shows up in a search report conducted by potential creditors or other interested parties. The Gresham Oregon UCC Financing Statement contains various essential elements. These include the name and address of both the debtor and the creditor, a description of the collateral being pledged as security, and any appropriate indications of the collateral's type or classification. Additionally, it includes the signature of the debtor authorizing the filing. There are several types of Gresham Oregon UCC Financing Statements that may be filed based on the nature of the transaction or circumstances. These include: 1. Gresham Oregon UCC-1 Financing Statement: This is the most commonly used financing statement and is filed to claim security interest in any type of personal property. 2. Gresham Oregon UCC-3 Financing Statement Amendment: This form is used to modify or alter information previously filed in the financing statement, such as changes in the debtor's name, address, or the collateral being claimed. 3. Gresham Oregon UCC-5 Information Statement: This statement is used to provide additional information or clarify details about a previously filed financing statement. It is crucial to accurately complete and file the appropriate Gresham Oregon UCC Financing Statement to protect the creditor's interest and ensure their claim's validity. It is recommended to consult with legal professionals or utilize online services specialized in UCC filing to ensure compliance with all requirements and avoid any potential errors.

The Gresham Oregon UCC Financing Statement is a legal document that provides a way for creditors to publicly claim their interest in a debtor's personal property to secure a loan or transaction. It is governed by the Uniform Commercial Code (UCC), which sets out rules and guidelines for transactions involving personal property. This financing statement serves as a public notice, alerting other creditors about a specific creditor's claim on the debtor's property. It helps establish a priority order in case of bankruptcy, insolvency, or default. The Gresham Oregon UCC Financing Statement shows up in a search report conducted by potential creditors or other interested parties. The Gresham Oregon UCC Financing Statement contains various essential elements. These include the name and address of both the debtor and the creditor, a description of the collateral being pledged as security, and any appropriate indications of the collateral's type or classification. Additionally, it includes the signature of the debtor authorizing the filing. There are several types of Gresham Oregon UCC Financing Statements that may be filed based on the nature of the transaction or circumstances. These include: 1. Gresham Oregon UCC-1 Financing Statement: This is the most commonly used financing statement and is filed to claim security interest in any type of personal property. 2. Gresham Oregon UCC-3 Financing Statement Amendment: This form is used to modify or alter information previously filed in the financing statement, such as changes in the debtor's name, address, or the collateral being claimed. 3. Gresham Oregon UCC-5 Information Statement: This statement is used to provide additional information or clarify details about a previously filed financing statement. It is crucial to accurately complete and file the appropriate Gresham Oregon UCC Financing Statement to protect the creditor's interest and ensure their claim's validity. It is recommended to consult with legal professionals or utilize online services specialized in UCC filing to ensure compliance with all requirements and avoid any potential errors.