Bend Oregon UCC Financing Statement

• Category: Oregon Court Samples - Loans and Lending - Assignments - Leases - Sample Case 2
• State: Oregon
• City: Bend
• Control #: OR-HJ-655-01
• Format: PDF

Description

A01 UCC Financing Statement A Bend Oregon UCC Financing Statement is a legal document used to secure a creditor's interest in personal property as collateral for a loan. This statement is an essential part of the Uniform Commercial Code (UCC) regulations, which govern commercial transactions in Bend, Oregon. The purpose of a UCC Financing Statement is to provide notice to other parties, including potential lenders or buyers, that a particular creditor has a security interest in the debtor's assets. By filing this statement with the Oregon Secretary of State's office, the creditor establishes their priority over other parties in case of default or bankruptcy. The Bend Oregon UCC Financing Statement includes crucial information, such as: 1. Debtor's Information: This section includes the debtor's legal name, mailing address, and organization type (such as an individual, partnership, corporation, or limited liability company). 2. Secured Party's Information: This section identifies the secured party or creditor, including their name, mailing address, and contact details. 3. Collateral Description: The UCC Financing Statement requires a detailed description of the collateral being used as security for the loan. This typically includes a general description and can also include specific details like serial numbers, make, model, or any other identifying information. 4. Additional Provisions: This section allows the creditor to provide any additional information or instructions regarding the security interest. It is important to note that there are different types of UCC Financing Statements that may be applicable in Bend, Oregon based on the nature of the transaction. These types include: 1. Blanket UCC Financing Statements: This type of statement provides a broad security interest in all the debtor's assets, present, and future. It serves as a comprehensive lien on all the debtor's personal property. 2. Single-Transaction UCC Financing Statements: This type of statement applies to a specific transaction or loan. It covers only the collateral related to that particular transaction and is typically used for one-time loans. 3. Fixture Filings: When a debtor's personal property becomes a fixture or is attached to real estate, a fixture filing may be necessary. This ensures the creditor's interest remains valid even if the property is affixed to the land. In conclusion, a Bend Oregon UCC Financing Statement is a legal document that creates a security interest in personal property to secure a loan. By filing this statement with the Oregon Secretary of State's office, a creditor provides notice to other parties and establishes their priority in case of default. Different types of UCC Financing Statements, such as blanket, single-transaction, and fixture filings, may be used depending on the nature of the transaction.

A Bend Oregon UCC Financing Statement is a legal document used to secure a creditor's interest in personal property as collateral for a loan. This statement is an essential part of the Uniform Commercial Code (UCC) regulations, which govern commercial transactions in Bend, Oregon. The purpose of a UCC Financing Statement is to provide notice to other parties, including potential lenders or buyers, that a particular creditor has a security interest in the debtor's assets. By filing this statement with the Oregon Secretary of State's office, the creditor establishes their priority over other parties in case of default or bankruptcy. The Bend Oregon UCC Financing Statement includes crucial information, such as: 1. Debtor's Information: This section includes the debtor's legal name, mailing address, and organization type (such as an individual, partnership, corporation, or limited liability company). 2. Secured Party's Information: This section identifies the secured party or creditor, including their name, mailing address, and contact details. 3. Collateral Description: The UCC Financing Statement requires a detailed description of the collateral being used as security for the loan. This typically includes a general description and can also include specific details like serial numbers, make, model, or any other identifying information. 4. Additional Provisions: This section allows the creditor to provide any additional information or instructions regarding the security interest. It is important to note that there are different types of UCC Financing Statements that may be applicable in Bend, Oregon based on the nature of the transaction. These types include: 1. Blanket UCC Financing Statements: This type of statement provides a broad security interest in all the debtor's assets, present, and future. It serves as a comprehensive lien on all the debtor's personal property. 2. Single-Transaction UCC Financing Statements: This type of statement applies to a specific transaction or loan. It covers only the collateral related to that particular transaction and is typically used for one-time loans. 3. Fixture Filings: When a debtor's personal property becomes a fixture or is attached to real estate, a fixture filing may be necessary. This ensures the creditor's interest remains valid even if the property is affixed to the land. In conclusion, a Bend Oregon UCC Financing Statement is a legal document that creates a security interest in personal property to secure a loan. By filing this statement with the Oregon Secretary of State's office, a creditor provides notice to other parties and establishes their priority in case of default. Different types of UCC Financing Statements, such as blanket, single-transaction, and fixture filings, may be used depending on the nature of the transaction.