UCC1 - Financing Statement - Texas - For use until August 1, 2013. This form is a financing statement used to cover certain collateral as specified in the form. This Financing Statement complies will all applicable state laws.
The Harris Texas UCC1 Financing Statement is a legal document used to provide public notice of a security interest in a debtor's personal property. It is filed with the Secretary of State's office in Harris County, Texas, in compliance with the Uniform Commercial Code (UCC). This statement ensures that creditors have a priority claim on the specified collateral in case the debtor defaults on their loan payments. The UCC1 financing statement serves as a valuable tool for lenders, as it establishes their rights and interests in the collateral. The primary purpose of filing this statement is to put other potential creditors on notice about the existing security interest, preventing conflicts or disputes regarding the collateral's ownership and priority. Keywords: Harris Texas UCC1 Financing Statement, legal document, security interest, debtor's personal property, Secretary of State's office, Harris County, Texas, Uniform Commercial Code, UCC, priority claim, loan payments, creditors, collateral, default, lender, rights, interests, potential creditors, notice, conflicts, ownership, priority. Different types of Harris Texas UCC1 Financing Statement: 1. Initial Financing Statement: This is filed when a creditor initially establishes a security interest in the debtor's personal property. It provides detailed information about the debtor, secured party, collateral, and any additional terms or conditions. 2. Amendment Financing Statement: If there are any changes to the original financing statement, an amendment is filed to update and reflect the modifications. This could include revisions to the collateral description, changes in the secured party's information, or amendments to the terms of the security agreement. 3. Continuation Financing Statement: This type of statement is filed to extend the effectiveness of the original financing statement before it expires. By filing a continuation statement, the secured party ensures that their security interest remains active beyond the initial period specified in the original filing. 4. Termination Financing Statement: When a debt is paid off or the security interest is no longer valid, a termination statement is filed to release the public record of the security interest. This informs other creditors and interested parties that the lien or claim has been satisfied or released. Keywords: Initial Financing Statement, Amendment Financing Statement, Continuation Financing Statement, Termination Financing Statement, security interest, debtor, personal property, modifications, collateral description, secured party, information, terms, expiration, debt, paid off, termination statement, lien, claim, satisfied, released.The Harris Texas UCC1 Financing Statement is a legal document used to provide public notice of a security interest in a debtor's personal property. It is filed with the Secretary of State's office in Harris County, Texas, in compliance with the Uniform Commercial Code (UCC). This statement ensures that creditors have a priority claim on the specified collateral in case the debtor defaults on their loan payments. The UCC1 financing statement serves as a valuable tool for lenders, as it establishes their rights and interests in the collateral. The primary purpose of filing this statement is to put other potential creditors on notice about the existing security interest, preventing conflicts or disputes regarding the collateral's ownership and priority. Keywords: Harris Texas UCC1 Financing Statement, legal document, security interest, debtor's personal property, Secretary of State's office, Harris County, Texas, Uniform Commercial Code, UCC, priority claim, loan payments, creditors, collateral, default, lender, rights, interests, potential creditors, notice, conflicts, ownership, priority. Different types of Harris Texas UCC1 Financing Statement: 1. Initial Financing Statement: This is filed when a creditor initially establishes a security interest in the debtor's personal property. It provides detailed information about the debtor, secured party, collateral, and any additional terms or conditions. 2. Amendment Financing Statement: If there are any changes to the original financing statement, an amendment is filed to update and reflect the modifications. This could include revisions to the collateral description, changes in the secured party's information, or amendments to the terms of the security agreement. 3. Continuation Financing Statement: This type of statement is filed to extend the effectiveness of the original financing statement before it expires. By filing a continuation statement, the secured party ensures that their security interest remains active beyond the initial period specified in the original filing. 4. Termination Financing Statement: When a debt is paid off or the security interest is no longer valid, a termination statement is filed to release the public record of the security interest. This informs other creditors and interested parties that the lien or claim has been satisfied or released. Keywords: Initial Financing Statement, Amendment Financing Statement, Continuation Financing Statement, Termination Financing Statement, security interest, debtor, personal property, modifications, collateral description, secured party, information, terms, expiration, debt, paid off, termination statement, lien, claim, satisfied, released.
