UCC3 - Financing Statement Amendment Addendum - Texas - For use after July 1, 2001. This form is to be used as an addendum to the financing statement amendment. This form is to be filed in the real estate records.
The Edinburg Texas UCC3 Financing Statement Amendment Addendum is a legal document used to modify or revise an existing financing statement related to a secured transaction in Edinburg, Texas. This addendum is crucial for parties involved in commercial transactions or lending agreements to update or correct the information provided in the original financing statement. By filing this document, any necessary amendments or revisions can be made to ensure accuracy and compliance with the Uniform Commercial Code (UCC). There are several types of Edinburg Texas UCC3 Financing Statement Amendment Addendums that may be relevant in different scenarios: 1. Correction Addendum: This type of addendum is used when there are minor errors or mistakes found in the original financing statement. It allows the filer to make corrections to inaccurate or incomplete information, such as misspelled names, incorrect addresses, or wrong collateral descriptions. 2. Continuation Addendum: When the initial financing statement is nearing its expiration date (typically five years from the original filing), a continuation addendum is filed to extend the validity of the financing statement. This addendum ensures that the secured party's interest remains perfected and prioritized against other potential claimants. 3. Termination Addendum: If a secured party no longer has an interest in the collateral or the obligations secured by it have been fully satisfied, a termination addendum is filed. This addendum formally releases the secured party's interest and removes the financing statement from public record. 4. Assignment Addendum: In cases where a secured party transfers their rights or interest to another party, an assignment addendum is filed. This addendum reflects the change of secured party and ensures that the new party becomes the holder of the security interest. The Edinburg Texas UCC3 Financing Statement Amendment Addendum is an essential tool for maintaining accurate and up-to-date information regarding secured transactions. By utilizing the appropriate addendum type, parties involved can easily modify, continue, terminate, or assign their interest in collateral, thereby ensuring transparency and compliance with UCC regulations.The Edinburg Texas UCC3 Financing Statement Amendment Addendum is a legal document used to modify or revise an existing financing statement related to a secured transaction in Edinburg, Texas. This addendum is crucial for parties involved in commercial transactions or lending agreements to update or correct the information provided in the original financing statement. By filing this document, any necessary amendments or revisions can be made to ensure accuracy and compliance with the Uniform Commercial Code (UCC). There are several types of Edinburg Texas UCC3 Financing Statement Amendment Addendums that may be relevant in different scenarios: 1. Correction Addendum: This type of addendum is used when there are minor errors or mistakes found in the original financing statement. It allows the filer to make corrections to inaccurate or incomplete information, such as misspelled names, incorrect addresses, or wrong collateral descriptions. 2. Continuation Addendum: When the initial financing statement is nearing its expiration date (typically five years from the original filing), a continuation addendum is filed to extend the validity of the financing statement. This addendum ensures that the secured party's interest remains perfected and prioritized against other potential claimants. 3. Termination Addendum: If a secured party no longer has an interest in the collateral or the obligations secured by it have been fully satisfied, a termination addendum is filed. This addendum formally releases the secured party's interest and removes the financing statement from public record. 4. Assignment Addendum: In cases where a secured party transfers their rights or interest to another party, an assignment addendum is filed. This addendum reflects the change of secured party and ensures that the new party becomes the holder of the security interest. The Edinburg Texas UCC3 Financing Statement Amendment Addendum is an essential tool for maintaining accurate and up-to-date information regarding secured transactions. By utilizing the appropriate addendum type, parties involved can easily modify, continue, terminate, or assign their interest in collateral, thereby ensuring transparency and compliance with UCC regulations.