Hillsboro Oregon UCC Financing Statement Amendment

• Category: Oregon Contracts - Uniform Commercial Code
• State: Oregon
• City: Hillsboro
• Control #: OR-LR059T
• Format: Word; Rich Text

Description

This form is an amended Financing statement used to cover certain collateral as specified in the form. This amendment is to be filed in the real estate records. Hillsboro Oregon UCC Financing Statement Amendment is a legal process that allows individuals or businesses to make changes or updates to an existing UCC (Uniform Commercial Code) Financing Statement in Hillsboro, Oregon. A UCC Financing Statement is a document that provides public notice of a security interest in personal property and is typically filed to protect a creditor's rights in case of default or bankruptcy. The Hillsboro Oregon UCC Financing Statement Amendment is an essential step to reflect any changes in the original financing statement, such as modifications to the debtor's information, collateral description, or even termination of the financing statement. These updates ensure accuracy and maintain the continuity of the public record, providing valuable information to creditors and other interested parties. Different types of Hillsboro Oregon UCC Financing Statement Amendments may include: 1. Amending Debtor Information: This type of amendment is filed when there is a change in the debtor's information, such as a name change, change in address, or legal entity type conversion (e.g., from a sole proprietorship to a corporation). It is crucial to keep the information up to date for proper identification and notification. 2. Amending Collateral Description: If there are modifications to the collateral listed in the original UCC Financing Statement, such as adding additional assets or removing certain assets, an amendment is required to reflect these changes accurately. This ensures that all parties involved are aware of the current collateral associated with the security interest. 3. Amending Secured Party Information: In situations where there is a change in the secured party (i.e., the creditor), such as the assignment of a security interest to another entity, an amendment is necessary to update the public record. This allows the new secured party to enforce their rights and protects their interests properly. 4. Termination Amendment: When a debt is fully repaid, or there is a release of the security interest, a termination amendment is filed to remove the UCC Financing Statement from the public record. This ensures that the debtor's assets are no longer encumbered, providing clarity and transparency for future transactions. The Hillsboro Oregon UCC Financing Statement Amendment process involves completing the appropriate form, paying the required fee, and submitting it to the appropriate government agency, such as the Oregon Secretary of State. It is crucial to file these amendments accurately and promptly to maintain the effectiveness of the original financing statement and protect all parties' interests involved.

Hillsboro Oregon UCC Financing Statement Amendment is a legal process that allows individuals or businesses to make changes or updates to an existing UCC (Uniform Commercial Code) Financing Statement in Hillsboro, Oregon. A UCC Financing Statement is a document that provides public notice of a security interest in personal property and is typically filed to protect a creditor's rights in case of default or bankruptcy. The Hillsboro Oregon UCC Financing Statement Amendment is an essential step to reflect any changes in the original financing statement, such as modifications to the debtor's information, collateral description, or even termination of the financing statement. These updates ensure accuracy and maintain the continuity of the public record, providing valuable information to creditors and other interested parties. Different types of Hillsboro Oregon UCC Financing Statement Amendments may include: 1. Amending Debtor Information: This type of amendment is filed when there is a change in the debtor's information, such as a name change, change in address, or legal entity type conversion (e.g., from a sole proprietorship to a corporation). It is crucial to keep the information up to date for proper identification and notification. 2. Amending Collateral Description: If there are modifications to the collateral listed in the original UCC Financing Statement, such as adding additional assets or removing certain assets, an amendment is required to reflect these changes accurately. This ensures that all parties involved are aware of the current collateral associated with the security interest. 3. Amending Secured Party Information: In situations where there is a change in the secured party (i.e., the creditor), such as the assignment of a security interest to another entity, an amendment is necessary to update the public record. This allows the new secured party to enforce their rights and protects their interests properly. 4. Termination Amendment: When a debt is fully repaid, or there is a release of the security interest, a termination amendment is filed to remove the UCC Financing Statement from the public record. This ensures that the debtor's assets are no longer encumbered, providing clarity and transparency for future transactions. The Hillsboro Oregon UCC Financing Statement Amendment process involves completing the appropriate form, paying the required fee, and submitting it to the appropriate government agency, such as the Oregon Secretary of State. It is crucial to file these amendments accurately and promptly to maintain the effectiveness of the original financing statement and protect all parties' interests involved.