This Uniform Commercial Code form, a UCC1-AD - Financing Statement - Texas, is for use in the documentation of personal property as collateral for a loan, and related matters.
The San Antonio Texas UCC1-AD — Financing Statement is a legal document that falls under the Uniform Commercial Code (UCC). It serves as a means of providing notice to the public regarding a secured transaction between a debtor and a secured party. The UCC1-AD specifically pertains to the financing of agricultural products, and it is filed with the appropriate authorities in San Antonio, Texas. The purpose of a UCC1-AD — Financing Statement is to establish a creditor's interest in collateral that has been given by a debtor as security for a loan or debt. This collateral can vary but typically includes crops, livestock, farm equipment, and other tangible agricultural products. By filing this statement, the secured party gains priority over other creditors who may claim an interest in the same collateral. The document itself includes pertinent information such as the names and addresses of both the debtor and the secured party. It also identifies the specific collateral that is being used to secure the debt. Additionally, it may include other details such as the amount of the debt, the duration, and any agreed-upon terms. These details are necessary for proper record-keeping and to prevent any potential disputes or conflicting claims in the future. It is important to note that there may be variations of the UCC1-AD — Financing Statement that are tailored to specific jurisdictions or circumstances. However, the essential purpose and structure remain the same — to establish the rights of the secured party and provide notice to the public. The filing of a UCC1-AD — Financing Statement can be done at the local government office responsible for recording such documents, typically the County Clerk's Office or Secretary of State's Office. This filing creates a public record of the secured transaction, allowing interested parties, such as potential creditors or buyers, to access information about the debtor's existing obligations. In conclusion, the San Antonio Texas UCC1-AD — Financing Statement is a legal document used to establish a creditor's interest in agricultural collateral. It serves as a way to provide notice to the public regarding secured transactions and ensures that the secured party has the right to the collateral in case of default by the debtor. Remember to consult with a legal professional or appropriate authorities for specific guidelines and requirements when filing a UCC1-AD in San Antonio, Texas.The San Antonio Texas UCC1-AD — Financing Statement is a legal document that falls under the Uniform Commercial Code (UCC). It serves as a means of providing notice to the public regarding a secured transaction between a debtor and a secured party. The UCC1-AD specifically pertains to the financing of agricultural products, and it is filed with the appropriate authorities in San Antonio, Texas. The purpose of a UCC1-AD — Financing Statement is to establish a creditor's interest in collateral that has been given by a debtor as security for a loan or debt. This collateral can vary but typically includes crops, livestock, farm equipment, and other tangible agricultural products. By filing this statement, the secured party gains priority over other creditors who may claim an interest in the same collateral. The document itself includes pertinent information such as the names and addresses of both the debtor and the secured party. It also identifies the specific collateral that is being used to secure the debt. Additionally, it may include other details such as the amount of the debt, the duration, and any agreed-upon terms. These details are necessary for proper record-keeping and to prevent any potential disputes or conflicting claims in the future. It is important to note that there may be variations of the UCC1-AD — Financing Statement that are tailored to specific jurisdictions or circumstances. However, the essential purpose and structure remain the same — to establish the rights of the secured party and provide notice to the public. The filing of a UCC1-AD — Financing Statement can be done at the local government office responsible for recording such documents, typically the County Clerk's Office or Secretary of State's Office. This filing creates a public record of the secured transaction, allowing interested parties, such as potential creditors or buyers, to access information about the debtor's existing obligations. In conclusion, the San Antonio Texas UCC1-AD — Financing Statement is a legal document used to establish a creditor's interest in agricultural collateral. It serves as a way to provide notice to the public regarding secured transactions and ensures that the secured party has the right to the collateral in case of default by the debtor. Remember to consult with a legal professional or appropriate authorities for specific guidelines and requirements when filing a UCC1-AD in San Antonio, Texas.
