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 Lewisville Texas UCC1 Financing Statement is a legal document that plays a pivotal role in securing creditor interests in personal property transactions. It registers a lender's claim or security interest over a debtor's assets, providing protection against potential default or bankruptcy situations. The UCC1 Financing Statement is governed by the Uniform Commercial Code (UCC) and must be filed with the Secretary of State's office in Texas. It is a vital tool for lenders when extending credit or loans to individuals, businesses, or organizations. By filing this statement, creditors establish priority rights over specific collateral offered by the debtor to secure the debt. There are several types of UCC1 Financing Statements in Lewisville, Texas, which cater to varying situations and transactions. These include: 1. Individual Debtor UCC1 Financing Statement: This type of statement is filed when an individual debtor grants a security interest in their assets to secure a loan or credit. 2. Business Debtor UCC1 Financing Statement: When a business entity, such as a corporation or limited liability company (LLC), pledges collateral to obtain financing, a business debtor UCC1 Financing Statement is filed. 3. Purchase Money Security Interest (PSI) UCC1 Financing Statement: This statement is submitted when a creditor provides financing to a debtor for the acquisition of specific collateral, typically seen in scenarios like auto loans or equipment financing. 4. Fixture Filing UCC1 Financing Statement: In cases where personal property, like machinery or equipment, is permanently affixed to real property (land or buildings), a fixture filing UCC1 Financing Statement is filed to establish the secured interest. Regardless of the type, all UCC1 Financing Statements in Lewisville, Texas, require accurate and detailed information about both the debtor and creditor, including names, addresses, and descriptions of the collateral. It's crucial for lenders and debtors to ensure the proper completion and timely filing of these documents to protect their interests and comply with legal obligations.The Lewisville Texas UCC1 Financing Statement is a legal document that plays a pivotal role in securing creditor interests in personal property transactions. It registers a lender's claim or security interest over a debtor's assets, providing protection against potential default or bankruptcy situations. The UCC1 Financing Statement is governed by the Uniform Commercial Code (UCC) and must be filed with the Secretary of State's office in Texas. It is a vital tool for lenders when extending credit or loans to individuals, businesses, or organizations. By filing this statement, creditors establish priority rights over specific collateral offered by the debtor to secure the debt. There are several types of UCC1 Financing Statements in Lewisville, Texas, which cater to varying situations and transactions. These include: 1. Individual Debtor UCC1 Financing Statement: This type of statement is filed when an individual debtor grants a security interest in their assets to secure a loan or credit. 2. Business Debtor UCC1 Financing Statement: When a business entity, such as a corporation or limited liability company (LLC), pledges collateral to obtain financing, a business debtor UCC1 Financing Statement is filed. 3. Purchase Money Security Interest (PSI) UCC1 Financing Statement: This statement is submitted when a creditor provides financing to a debtor for the acquisition of specific collateral, typically seen in scenarios like auto loans or equipment financing. 4. Fixture Filing UCC1 Financing Statement: In cases where personal property, like machinery or equipment, is permanently affixed to real property (land or buildings), a fixture filing UCC1 Financing Statement is filed to establish the secured interest. Regardless of the type, all UCC1 Financing Statements in Lewisville, Texas, require accurate and detailed information about both the debtor and creditor, including names, addresses, and descriptions of the collateral. It's crucial for lenders and debtors to ensure the proper completion and timely filing of these documents to protect their interests and comply with legal obligations.