UCC1 - Financing Statement Addendum - Texas - For use after July 1, 2001. This form permits you to add an additional debtor if necessary to cover collateral as specified in the statement.
The Grand Prairie Texas UCC1 Financing Statement Addendum is an essential legal document that provides additional information and clarification about a UCC1 financing statement filed in Grand Prairie, Texas. This addendum serves as a supplement to the initial financing statement, ensuring a comprehensive and accurate record of a debtor's secured transactions. Keywords: Grand Prairie Texas, UCC1 Financing Statement Addendum, legal document, additional information, clarification, UCC1 financing statement, Grand Prairie, Texas, supplement, comprehensive, accurate record, debtor, secured transactions. Types of Grand Prairie Texas UCC1 Financing Statement Addendum: 1. Amended Addendum: This type of addendum is used when there is a need to modify or make corrections to the information provided in the original UCC1 financing statement. It ensures that any changes in the debtor's name, address, or collateral details are accurately reflected. 2. Continuation Addendum: A continuation addendum is filed to extend the effectiveness of the original UCC1 financing statement beyond its initial expiration date. By filing this addendum, the secured party can maintain their security interest in the debtor's collateral for an extended period. 3. Release Addendum: When a debtor's obligations are satisfied, a release addendum is filed to terminate the UCC1 financing statement and release the secured party's interest in the collateral. This addendum is crucial to ensure that the debtor's creditworthiness is not impacted by the presence of an outdated filing. 4. Assignment Addendum: In cases of the assignment of a UCC1 financing statement, an assignment addendum is filed to transfer the secured party's interest to another party. This addendum offers clarity and transparency for future reference and ensures proper recording of the transaction. 5. Termination Addendum: A termination addendum is filed when a debtor has fully paid off their secured obligations, and the UCC1 financing statement is no longer needed. This addendum terminates the effectiveness of the financing statement and officially removes any security interest. In conclusion, the Grand Prairie Texas UCC1 Financing Statement Addendum serves as a crucial legal instrument used to supplement, modify, or terminate original UCC1 financing statements. It ensures accuracy and transparency in recording secured transactions in Grand Prairie, Texas. Various types, including amended, continuation, release, assignment, and termination addenda, cater to specific needs and requirements.The Grand Prairie Texas UCC1 Financing Statement Addendum is an essential legal document that provides additional information and clarification about a UCC1 financing statement filed in Grand Prairie, Texas. This addendum serves as a supplement to the initial financing statement, ensuring a comprehensive and accurate record of a debtor's secured transactions. Keywords: Grand Prairie Texas, UCC1 Financing Statement Addendum, legal document, additional information, clarification, UCC1 financing statement, Grand Prairie, Texas, supplement, comprehensive, accurate record, debtor, secured transactions. Types of Grand Prairie Texas UCC1 Financing Statement Addendum: 1. Amended Addendum: This type of addendum is used when there is a need to modify or make corrections to the information provided in the original UCC1 financing statement. It ensures that any changes in the debtor's name, address, or collateral details are accurately reflected. 2. Continuation Addendum: A continuation addendum is filed to extend the effectiveness of the original UCC1 financing statement beyond its initial expiration date. By filing this addendum, the secured party can maintain their security interest in the debtor's collateral for an extended period. 3. Release Addendum: When a debtor's obligations are satisfied, a release addendum is filed to terminate the UCC1 financing statement and release the secured party's interest in the collateral. This addendum is crucial to ensure that the debtor's creditworthiness is not impacted by the presence of an outdated filing. 4. Assignment Addendum: In cases of the assignment of a UCC1 financing statement, an assignment addendum is filed to transfer the secured party's interest to another party. This addendum offers clarity and transparency for future reference and ensures proper recording of the transaction. 5. Termination Addendum: A termination addendum is filed when a debtor has fully paid off their secured obligations, and the UCC1 financing statement is no longer needed. This addendum terminates the effectiveness of the financing statement and officially removes any security interest. In conclusion, the Grand Prairie Texas UCC1 Financing Statement Addendum serves as a crucial legal instrument used to supplement, modify, or terminate original UCC1 financing statements. It ensures accuracy and transparency in recording secured transactions in Grand Prairie, Texas. Various types, including amended, continuation, release, assignment, and termination addenda, cater to specific needs and requirements.
