Hillsboro Oregon UCC1 Financing Statement

• Category: Oregon Contracts - Uniform Commercial Code
• State: Oregon
• City: Hillsboro
• Control #: OR-UCC1
• Format: PDF

Description

UCC1 - Financing Statement - Oregon - For use after July 1, 2001. This form is a financing statement used to cover certain collateral as specified in the form. This Financing Statement complies will all applicable state laws. Hillsboro Oregon UCC1 Financing Statement is a legal document filed by a secured party to establish their security interest in personal property. It is used as a means of protecting a lender's rights in the event that a borrower defaults on a loan or debt. The UCC1 Financing Statement serves as a public notice, notifying other potential creditors about the secured party's interest in specific assets. The UCC1 Financing Statement typically consists of a standardized form that includes various information, including the names and contact details of both the secured party (creditor) and the debtor (borrower), a detailed description of the collateral (assets used as security), and any additional clauses or special provisions. In Hillsboro, Oregon, there are no specific variations or types of UCC1 Financing Statement unique to the city. The UCC1 Financing Statement follows the Uniform Commercial Code (UCC) principles, which are adopted by most states in the United States, including Oregon. Therefore, the UCC1 Financing Statement used in Hillsboro is similar to those used across the state. It is important to note that the UCC1 Financing Statement does not transfer ownership of the collateral, but rather provides the secured party with priority rights over other creditors. The filing of this statement creates a public record of the secured party's interest and establishes a first-in-time priority, meaning that if multiple creditors claim rights to the same collateral, the one who filed the UCC1 Financing Statement first will have the highest priority. Common keywords relevant to Hillsboro Oregon UCC1 Financing Statement include: 1. Oregon UCC1 financing statement 2. Secured party 3. Debtor 4. Collateral description 5. Personal property 6. Legal document 7. Loan security 8. Default protection 9. Creditor's rights 10. Priority rights 11. Public notice 12. Uniform Commercial Code 13. Filing requirements 14. Asset-based lending 15. Creditworthiness assessment In summary, the Hillsboro Oregon UCC1 Financing Statement is a legal document used to establish a secured party's interest in personal property, following the principles of the Uniform Commercial Code. By filing this statement, the creditor ensures their priority rights over other creditors in case of default or bankruptcy.

Hillsboro Oregon UCC1 Financing Statement is a legal document filed by a secured party to establish their security interest in personal property. It is used as a means of protecting a lender's rights in the event that a borrower defaults on a loan or debt. The UCC1 Financing Statement serves as a public notice, notifying other potential creditors about the secured party's interest in specific assets. The UCC1 Financing Statement typically consists of a standardized form that includes various information, including the names and contact details of both the secured party (creditor) and the debtor (borrower), a detailed description of the collateral (assets used as security), and any additional clauses or special provisions. In Hillsboro, Oregon, there are no specific variations or types of UCC1 Financing Statement unique to the city. The UCC1 Financing Statement follows the Uniform Commercial Code (UCC) principles, which are adopted by most states in the United States, including Oregon. Therefore, the UCC1 Financing Statement used in Hillsboro is similar to those used across the state. It is important to note that the UCC1 Financing Statement does not transfer ownership of the collateral, but rather provides the secured party with priority rights over other creditors. The filing of this statement creates a public record of the secured party's interest and establishes a first-in-time priority, meaning that if multiple creditors claim rights to the same collateral, the one who filed the UCC1 Financing Statement first will have the highest priority. Common keywords relevant to Hillsboro Oregon UCC1 Financing Statement include: 1. Oregon UCC1 financing statement 2. Secured party 3. Debtor 4. Collateral description 5. Personal property 6. Legal document 7. Loan security 8. Default protection 9. Creditor's rights 10. Priority rights 11. Public notice 12. Uniform Commercial Code 13. Filing requirements 14. Asset-based lending 15. Creditworthiness assessment In summary, the Hillsboro Oregon UCC1 Financing Statement is a legal document used to establish a secured party's interest in personal property, following the principles of the Uniform Commercial Code. By filing this statement, the creditor ensures their priority rights over other creditors in case of default or bankruptcy.