Financing Statement Additional Party form for adding additional Debtors or Secured Parties to Financing Statements (Form UCC1) filed with the Oregon filing office.
Portland Oregon UCC1 Financing Statement Additional Party is a legal document that provides information about an additional party involved in a financing arrangement or transaction in Portland, Oregon. This additional party may have an interest in the collateral being used to secure the debt or loan. The UCC1 Financing Statement is filed with the Oregon Secretary of State's office and becomes a public record. The purpose of including an Additional Party in the UCC1 Financing Statement is to ensure that their interest in the collateral is legally recognized and protected. This is particularly important in situations where multiple parties may have a claim to the same collateral. There are generally two types of additional parties that may be included in the Portland Oregon UCC1 Financing Statement: 1. Additional Secured Party: This refers to a party who is also providing financing or extending credit to the debtor, and therefore has a security interest in the collateral. By including the Additional Secured Party in the UCC1 Financing Statement, their legal rights and priority in the collateral are established. This is crucial in case of default or bankruptcy, as it determines the order in which creditors can recover their debts. 2. Additional Debtor: This pertains to an individual or entity whose interest in the collateral needs to be recorded, even if they are not the primary debtor. For example, if the collateral is jointly owned, or if there is a guarantor or co-signer involved, their details and interest must be included in the UCC1 Financing Statement. In both cases, accurate and complete information about the Additional Party must be provided in the Portland Oregon UCC1 Financing Statement. This includes their legal name, address, and any relevant identifiers or numbers, such as their Social Security number or business entity identification number. By filing the UCC1 Financing Statement with the Oregon Secretary of State's office, the Additional Party ensures that their interest is publicly recorded and recognized, providing protection and establishing their rights in the collateral. It is crucial to consult with legal experts or professionals knowledgeable in UCC (Uniform Commercial Code) regulations to ensure compliance with all requirements and to safeguard the interests of all parties involved in the financing arrangement in Portland, Oregon.Portland Oregon UCC1 Financing Statement Additional Party is a legal document that provides information about an additional party involved in a financing arrangement or transaction in Portland, Oregon. This additional party may have an interest in the collateral being used to secure the debt or loan. The UCC1 Financing Statement is filed with the Oregon Secretary of State's office and becomes a public record. The purpose of including an Additional Party in the UCC1 Financing Statement is to ensure that their interest in the collateral is legally recognized and protected. This is particularly important in situations where multiple parties may have a claim to the same collateral. There are generally two types of additional parties that may be included in the Portland Oregon UCC1 Financing Statement: 1. Additional Secured Party: This refers to a party who is also providing financing or extending credit to the debtor, and therefore has a security interest in the collateral. By including the Additional Secured Party in the UCC1 Financing Statement, their legal rights and priority in the collateral are established. This is crucial in case of default or bankruptcy, as it determines the order in which creditors can recover their debts. 2. Additional Debtor: This pertains to an individual or entity whose interest in the collateral needs to be recorded, even if they are not the primary debtor. For example, if the collateral is jointly owned, or if there is a guarantor or co-signer involved, their details and interest must be included in the UCC1 Financing Statement. In both cases, accurate and complete information about the Additional Party must be provided in the Portland Oregon UCC1 Financing Statement. This includes their legal name, address, and any relevant identifiers or numbers, such as their Social Security number or business entity identification number. By filing the UCC1 Financing Statement with the Oregon Secretary of State's office, the Additional Party ensures that their interest is publicly recorded and recognized, providing protection and establishing their rights in the collateral. It is crucial to consult with legal experts or professionals knowledgeable in UCC (Uniform Commercial Code) regulations to ensure compliance with all requirements and to safeguard the interests of all parties involved in the financing arrangement in Portland, Oregon.
