Financing Statement Amendment Additional Party form for adding additional Debtors or Secured Parties to Financing Statement Amendment (Form UCC3) filed with the Oregon filing office.
The Bend Oregon UCC3 Financing Statement Amendment Additional Party refers to a legal document used to modify or update the existing UCC3 financing statement by including an additional party in Bend, Oregon. This amendment is implemented to ensure accuracy and completeness of the recorded information, protecting the rights of all involved parties. When filing a Bend Oregon UCC3 Financing Statement Amendment Additional Party, the following details should be provided: 1. Original Financing Statement: The UCC3 Financing Statement Amendment Additional Party requires the inclusion of the original financing statement number and the filing date. This ensures that the amendment is properly associated with the previous record. 2. Additional Party Information: The amendment must clearly state the name, address, and other relevant identification details of the additional party being added to the original financing statement. This includes their legal name, any known aliases, and their principal place of business. 3. Security Interest Description: The document must outline the nature of the security interest held by the additional party. This includes a detailed description of the collateral or assets in which the security interest is claimed. Common examples may include personal property, real estate, equipment, inventory, or accounts receivables. 4. Priority and Continuity: The UCC3 Financing Statement Amendment Additional Party must specify whether the additional party's security interest is subordinate or equal to existing security interests. This is crucial in determining priority rights in case of disputes or bankruptcy. Types of Bend Oregon UCC3 Financing Statement Amendment Additional Party: 1. Individual Party: This involves adding an individual as a secured party to the original financing statement. Individual parties can be creditors, lenders, or individuals holding security interests in the debtor's assets. 2. Business Entity Party: This refers to adding a business entity, such as a corporation, partnership, or limited liability company (LLC), as an additional secured party. 3. Assignee Party: In cases where an original secured party assigns their interest to another entity, the assignee party will be added as an additional party. This amendment ensures continuity and proper documentation of the assignment. 4. Trustee Party: If the security interest is held by a trustee, such as in a trust agreement, the trustee party should be added as an additional secured party through the amendment process. 5. Co-Secured Party: Sometimes, multiple parties may hold a security interest jointly. In such cases, the UCC3 Financing Statement Amendment Additional Party would be used to include all co-secured parties, ensuring their rights are properly recorded. In conclusion, the Bend Oregon UCC3 Financing Statement Amendment Additional Party is a crucial legal document in modifying and updating the original financing statement. By carefully completing the required information and naming the relevant parties, this amendment ensures accurate records, protects the rights of all parties involved, and determines priority in case of contention or insolvency.The Bend Oregon UCC3 Financing Statement Amendment Additional Party refers to a legal document used to modify or update the existing UCC3 financing statement by including an additional party in Bend, Oregon. This amendment is implemented to ensure accuracy and completeness of the recorded information, protecting the rights of all involved parties. When filing a Bend Oregon UCC3 Financing Statement Amendment Additional Party, the following details should be provided: 1. Original Financing Statement: The UCC3 Financing Statement Amendment Additional Party requires the inclusion of the original financing statement number and the filing date. This ensures that the amendment is properly associated with the previous record. 2. Additional Party Information: The amendment must clearly state the name, address, and other relevant identification details of the additional party being added to the original financing statement. This includes their legal name, any known aliases, and their principal place of business. 3. Security Interest Description: The document must outline the nature of the security interest held by the additional party. This includes a detailed description of the collateral or assets in which the security interest is claimed. Common examples may include personal property, real estate, equipment, inventory, or accounts receivables. 4. Priority and Continuity: The UCC3 Financing Statement Amendment Additional Party must specify whether the additional party's security interest is subordinate or equal to existing security interests. This is crucial in determining priority rights in case of disputes or bankruptcy. Types of Bend Oregon UCC3 Financing Statement Amendment Additional Party: 1. Individual Party: This involves adding an individual as a secured party to the original financing statement. Individual parties can be creditors, lenders, or individuals holding security interests in the debtor's assets. 2. Business Entity Party: This refers to adding a business entity, such as a corporation, partnership, or limited liability company (LLC), as an additional secured party. 3. Assignee Party: In cases where an original secured party assigns their interest to another entity, the assignee party will be added as an additional party. This amendment ensures continuity and proper documentation of the assignment. 4. Trustee Party: If the security interest is held by a trustee, such as in a trust agreement, the trustee party should be added as an additional secured party through the amendment process. 5. Co-Secured Party: Sometimes, multiple parties may hold a security interest jointly. In such cases, the UCC3 Financing Statement Amendment Additional Party would be used to include all co-secured parties, ensuring their rights are properly recorded. In conclusion, the Bend Oregon UCC3 Financing Statement Amendment Additional Party is a crucial legal document in modifying and updating the original financing statement. By carefully completing the required information and naming the relevant parties, this amendment ensures accurate records, protects the rights of all parties involved, and determines priority in case of contention or insolvency.
