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 Harris Texas UCC1 Financing Statement Addendum is an important legal document used to provide supplementary information regarding a UCC1 Financing Statement filed in Harris County, Texas. Serving as an integral part of the Uniform Commercial Code (UCC) framework, the UCC1 Financing Statement Addendum ensures transparency and clarity in commercial transactions, providing insightful details that may have been omitted or require further explanation. This addendum acts as an attachment to the UCC1 Financing Statement, adding specificity and depth to the debtor-creditor relationship. It goes beyond the basic debtor and secured party information provided in the initial filing, offering additional details that are crucial for lenders, buyers, and other interested parties. The Harris Texas UCC1 Financing Statement Addendum typically includes keywords such as: 1. Collateral Description: This section outlines a detailed description of the collateral being pledged as security. It may list various assets, such as equipment, inventory, accounts receivable, or real estate, along with identification numbers and any other relevant specifics. 2. Additional Debtors: If there are multiple debtors involved in the transaction, this addendum allows for their identification, including their legal names, addresses, and other necessary information. This helps prevent confusion and ensures accuracy in identifying all parties involved. 3. Amendments and Continuations: In case any modifications, amendments, or continuations are required for an existing UCC1 Financing Statement, this addendum provides the required space to include such changes. It helps in keeping the documentation up-to-date and reflects any alterations that may have occurred over time. 4. Assignments: When a secured party transfers their rights and interests to another party, this section facilitates the assignment process by providing space to record the assignee's details. This allows for clear record-keeping and smooth transitions in the event of ownership changes. 5. Termination Statements: If a UCC1 Financing Statement needs to be terminated or released, this addendum enables the completion of the process by providing necessary fields to indicate the termination date, secured party details, debtor information, and any other relevant data. It helps ensure that creditors no longer have any claims on the debtor's collateral and clarifies their release from any obligations. It is important to note that the Harris Texas UCC1 Financing Statement Addendum may have variations depending on the specific requirements, practices, and regulations within Harris County, Texas. However, the core purpose remains consistent — to supplement the information provided in the UCC1 Financing Statement, ensuring comprehensive and accurate records in commercial transactions.The Harris Texas UCC1 Financing Statement Addendum is an important legal document used to provide supplementary information regarding a UCC1 Financing Statement filed in Harris County, Texas. Serving as an integral part of the Uniform Commercial Code (UCC) framework, the UCC1 Financing Statement Addendum ensures transparency and clarity in commercial transactions, providing insightful details that may have been omitted or require further explanation. This addendum acts as an attachment to the UCC1 Financing Statement, adding specificity and depth to the debtor-creditor relationship. It goes beyond the basic debtor and secured party information provided in the initial filing, offering additional details that are crucial for lenders, buyers, and other interested parties. The Harris Texas UCC1 Financing Statement Addendum typically includes keywords such as: 1. Collateral Description: This section outlines a detailed description of the collateral being pledged as security. It may list various assets, such as equipment, inventory, accounts receivable, or real estate, along with identification numbers and any other relevant specifics. 2. Additional Debtors: If there are multiple debtors involved in the transaction, this addendum allows for their identification, including their legal names, addresses, and other necessary information. This helps prevent confusion and ensures accuracy in identifying all parties involved. 3. Amendments and Continuations: In case any modifications, amendments, or continuations are required for an existing UCC1 Financing Statement, this addendum provides the required space to include such changes. It helps in keeping the documentation up-to-date and reflects any alterations that may have occurred over time. 4. Assignments: When a secured party transfers their rights and interests to another party, this section facilitates the assignment process by providing space to record the assignee's details. This allows for clear record-keeping and smooth transitions in the event of ownership changes. 5. Termination Statements: If a UCC1 Financing Statement needs to be terminated or released, this addendum enables the completion of the process by providing necessary fields to indicate the termination date, secured party details, debtor information, and any other relevant data. It helps ensure that creditors no longer have any claims on the debtor's collateral and clarifies their release from any obligations. It is important to note that the Harris Texas UCC1 Financing Statement Addendum may have variations depending on the specific requirements, practices, and regulations within Harris County, Texas. However, the core purpose remains consistent — to supplement the information provided in the UCC1 Financing Statement, ensuring comprehensive and accurate records in commercial transactions.
