How serious is a UCC lien?

A UCC lien isn't anything that drastic. It's more like a mortgage because it's a lien to which you agree in return for the loan. As long as you keep up your payments, it shouldn't cause problems. However, if you need additional financing at some point, the next lender knows lender number one will get paid first.

How serious is a UCC lien?

A UCC lien isn't anything that drastic. It's more like a mortgage because it's a lien to which you agree in return for the loan. As long as you keep up your payments, it shouldn't cause problems. However, if you need additional financing at some point, the next lender knows lender number one will get paid first.

How serious is a UCC lien?

A UCC lien isn't anything that drastic. It's more like a mortgage because it's a lien to which you agree in return for the loan. As long as you keep up your payments, it shouldn't cause problems. However, if you need additional financing at some point, the next lender knows lender number one will get paid first.

US Legal Forms
Localized Forms
Texas
Harris
Texas UCC Security agreement

Harris Texas UCC Security agreement

Name: Harris Texas UCC Security agreement
Brand: US Legal Forms
Rating: 4.85 (477 reviews)

Category:

Texas Contracts - Uniform Commercial Code

State:

Texas

County:

Harris

Control #:

TX-1043

Format:

Instant download

Description

This detailed sample UCC Security agreement complies with Texas law. Adapt the language to fit your facts and circumstances. Available in Word and Rich Text formats.

View Atlanta Property Management Agreement - Apartment Complex

View this form

View Arlington Property Management Agreement - Apartment Complex

View this form

View Anchorage Property Management Agreement - Apartment Complex

View this form

View Anaheim Property Management Agreement - Apartment Complex

View this form

View Albuquerque Property Management Agreement - Apartment Complex

View this form

How to fill out Harris Texas UCC Security Agreement?

We always strive to minimize or avoid legal damage when dealing with nuanced law-related or financial matters. To accomplish this, we apply for legal services that, as a rule, are very costly. Nevertheless, not all legal issues are equally complex. Most of them can be dealt with by ourselves.

US Legal Forms is an online collection of up-to-date DIY legal documents covering anything from wills and powers of attorney to articles of incorporation and petitions for dissolution. Our library helps you take your matters into your own hands without turning to a lawyer. We offer access to legal document templates that aren’t always publicly available. Our templates are state- and area-specific, which considerably facilitates the search process.

Benefit from US Legal Forms whenever you need to get and download the Harris Texas UCC Security agreement or any other document quickly and securely. Simply log in to your account and click the Get button next to it. If you happened to lose the form, you can always re-download it from within the My Forms tab.

The process is equally straightforward if you’re new to the website! You can create your account within minutes.

Make sure to check if the Harris Texas UCC Security agreement complies with the laws and regulations of your your state and area.
Also, it’s crucial that you check out the form’s outline (if provided), and if you spot any discrepancies with what you were looking for in the first place, search for a different form.
As soon as you’ve made sure that the Harris Texas UCC Security agreement is proper for you, you can select the subscription option and proceed to payment.
Then you can download the form in any available format.

For over 24 years of our presence on the market, we’ve served millions of people by providing ready to customize and up-to-date legal documents. Make the most of US Legal Forms now to save time and resources!

Form Rating

4.85

Satisfied(477)

Form popularity

FAQ

In Texas you can search for UCC-1 filings made against your company through a website provided by the Texas Secretary of State's office. There is a very small fee for conducting this search. Normally a UCC-1 Financing Statement expires five years from the date and time of filing as indicated on the UCC-1 form.

1 filing is good for five years. After five years, it is considered lapsed and no longer valid. Should your debtor remain in debt to you and encounter financial difficulty or file for bankruptcy, you have no secured interest if your UCC1 filing has lapsed.

A uniform commercial code (UCC) filing is a notice registered by a lender when a loan is taken out against a single asset or a group of assets. A UCC filing creates a lien against the collateral a borrower pledges for a business loan. The uniform commercial code is a set of rules governing commercial transactions.

The secured party has 20 days to either terminate the filing or send a termination statement to the debtor that the debtor can then file. If this does not happen within the 20-day time frame, the debtor may file a UCC-3 termination statement.

1 filing is a legal form that a creditor files to secure its interest in a borrower's property or assets used as collateral for a loan. The filing serves as a public notice that the creditor has the right to take possession of the assets as repayment on the underlying debt.

How do I get rid of a UCC filing? You can remove a UCC filing when you've repaid your business loan in full. Once you repay the debt, the lender should remove the lien from your business assets. If not, you may request that the lender files a UCC-3 to terminate the lien.

The filing fee is $25 per document. make checks payable to the Georgia Superior Court Clerks' Cooperative Authority.

UCC-1 forms. The most common UCC form is the UCC-1 or Financing Statement. These forms are routine in the case of secured loan, where the lender uses the UCC-1 to place a lien on a particular piece of collateral or all assets belonging to a business or person.

A UCC lien isn't anything that drastic. It's more like a mortgage because it's a lien to which you agree in return for the loan. As long as you keep up your payments, it shouldn't cause problems. However, if you need additional financing at some point, the next lender knows lender number one will get paid first.

In theory, anyone can file a UCC-1 against anyone else. To protect both secured creditors and debtors, Article 9 has strict requirements that must be met for a filed UCC-1 to be effective. One of those requirements is that the financing statement must be authorized by the debtor.

The filing fee is $25 per document. make checks payable to the Georgia Superior Court Clerks' Cooperative Authority.

Interesting Questions

More info

UCC1Ad, UCC Financing Statement Addendum (Form UCC1Ad) (Rev. The prescribed forms are available in fill-in-the-blank format on this web site at UCC Forms.Address Requirement for Recording Abstract. Per Texas Property Code Section. 52.0041. Texas Secretary of State World Wide Web Homepage. Uniform Commercial Code Inquiry System. The University of Texas School of Law Continuing Legal Education ▫ 512.475. Posted on Jul 7, 2015. A Guide to Understanding Texas Real Estate Liens. Authorities Law, codified in the Texas Local Government Code.

See also Property Code Section. Copyright © 2. The University of Texas School of Law. All rights reserved. This material may not be reproduced without permission from the copyright holder. This information is available for informational purposes only and is not intended as legal advice. Consult a residential real estate lawyer, a local commercial real estate lawyer, or an attorney with experience in commercial real estate for advice in specific instances.

Disclaimer
The materials in this section are taken from public sources. We disclaim all representations or any warranties, express or implied, as to the accuracy, authenticity, reliability, accessibility, adequacy, or completeness of any data in this paragraph. Nevertheless, we make every effort to cite public sources deemed reliable and trustworthy.

Harris Texas UCC Security agreement

Description

Related forms

How to fill out Harris Texas UCC Security Agreement?

Show more info

Trusted and secure by over 3 million people of the world’s leading companies