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.
League City Texas UCC1 Financing Statement Addendum is an important legal document that provides additional information or modifies an existing UCC1 financing statement for secured transactions in League City, Texas. This addendum plays a crucial role in documenting and protecting security interests in personal property. The League City Texas UCC1 Financing Statement Addendum serves to supplement the initial UCC1 filing. It may include various types of information, depending on the specific needs and requirements of the secured party. Some common types of addendums used in League City Texas include: 1. Collateral Description Addendum: This type of addendum provides a detailed description of the collateral being used to secure the loan or credit. It includes information such as the type of property, its location, the quantity or volume, and any relevant serial or identification numbers. 2. Amendment Addendum: An amendment addendum is used to make changes or revisions to an existing UCC1 financing statement. It is typically utilized when there is a need to correct errors or update information previously filed, such as debtor's name, secured party's information, or collateral description. 3. Continuation Addendum: A continuation addendum extends the original UCC1 financing statement's effectiveness, ensuring that the security interest remains in force beyond its expiration date. By filing this addendum, the secured party maintains their priority in the collateral. 4. Termination Addendum: When a secured debt is fully paid off or otherwise satisfied, a termination addendum is filed to formally release the security interest. This addendum effectively removes the UCC1 financing statement from public records. 5. Assignment Addendum: In the event of transferring the rights and interests in a secured transaction, an assignment addendum is filed. This document assigns the security interest from one secured party to another or from one debtor to another, outlining the new party's details. To ensure compliance and accurate filing of a League City Texas UCC1 Financing Statement Addendum, it is advisable to consult with a legal professional or seek guidance from the appropriate government authority.League City Texas UCC1 Financing Statement Addendum is an important legal document that provides additional information or modifies an existing UCC1 financing statement for secured transactions in League City, Texas. This addendum plays a crucial role in documenting and protecting security interests in personal property. The League City Texas UCC1 Financing Statement Addendum serves to supplement the initial UCC1 filing. It may include various types of information, depending on the specific needs and requirements of the secured party. Some common types of addendums used in League City Texas include: 1. Collateral Description Addendum: This type of addendum provides a detailed description of the collateral being used to secure the loan or credit. It includes information such as the type of property, its location, the quantity or volume, and any relevant serial or identification numbers. 2. Amendment Addendum: An amendment addendum is used to make changes or revisions to an existing UCC1 financing statement. It is typically utilized when there is a need to correct errors or update information previously filed, such as debtor's name, secured party's information, or collateral description. 3. Continuation Addendum: A continuation addendum extends the original UCC1 financing statement's effectiveness, ensuring that the security interest remains in force beyond its expiration date. By filing this addendum, the secured party maintains their priority in the collateral. 4. Termination Addendum: When a secured debt is fully paid off or otherwise satisfied, a termination addendum is filed to formally release the security interest. This addendum effectively removes the UCC1 financing statement from public records. 5. Assignment Addendum: In the event of transferring the rights and interests in a secured transaction, an assignment addendum is filed. This document assigns the security interest from one secured party to another or from one debtor to another, outlining the new party's details. To ensure compliance and accurate filing of a League City Texas UCC1 Financing Statement Addendum, it is advisable to consult with a legal professional or seek guidance from the appropriate government authority.
