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 Pasadena Texas UCC3 Financing Statement Amendment Addendum is a legal document commonly used in Pasadena, Texas, to amend an existing UCC3 financing statement. UCC3 stands for Uniform Commercial Code, Article 3, which governs negotiable instruments such as promissory notes and certificates of deposit. This amendment addendum serves as an official update to the original UCC3 financing statement, allowing lenders and other interested parties to modify or correct the information contained within it. It is crucial for accuracy and compliance with state regulations to have a correct and up-to-date financing statement reflecting the latest changes in a debtor's information or collateral. The Pasadena Texas UCC3 Financing Statement Amendment Addendum may be necessary in various situations, including: 1. Change in debtor information: When there is a change in the debtor's name, address, or other identifying details, this addendum allows the amendment of the existing financing statement to reflect the updated information accurately. 2. Modification of collateral details: If there are changes to the description of collateral, whether it be additions or deletions, this addendum provides a means to record those modifications in the UCC3 financing statement. 3. Termination or partial release of collateral: In case the debtor pays off a portion of the debt secured by collateral or if the collateral is no longer required, the addendum allows for the termination or partial release of the collateral from the original financing statement. 4. Addition or removal of secured parties: When there are changes in the secured party's name or address or if the secured party has assigned their interest to another party, this addendum facilitates recording such modifications. By promptly filing a Pasadena Texas UCC3 Financing Statement Amendment Addendum, creditors ensure that their security interests remain enforceable and protected against competing claims. Failure to update the UCC3 financing statement may result in potential loss of priority and increased risk. It's important to note that while the general purpose of this addendum remains the same, the specific types and requirements may vary depending on the state and individual circumstances. Therefore, it's always advisable to consult with legal professionals or the appropriate government authorities for accurate guidance on the specific types and requirements of the Pasadena Texas UCC3 Financing Statement Amendment Addendum.The Pasadena Texas UCC3 Financing Statement Amendment Addendum is a legal document commonly used in Pasadena, Texas, to amend an existing UCC3 financing statement. UCC3 stands for Uniform Commercial Code, Article 3, which governs negotiable instruments such as promissory notes and certificates of deposit. This amendment addendum serves as an official update to the original UCC3 financing statement, allowing lenders and other interested parties to modify or correct the information contained within it. It is crucial for accuracy and compliance with state regulations to have a correct and up-to-date financing statement reflecting the latest changes in a debtor's information or collateral. The Pasadena Texas UCC3 Financing Statement Amendment Addendum may be necessary in various situations, including: 1. Change in debtor information: When there is a change in the debtor's name, address, or other identifying details, this addendum allows the amendment of the existing financing statement to reflect the updated information accurately. 2. Modification of collateral details: If there are changes to the description of collateral, whether it be additions or deletions, this addendum provides a means to record those modifications in the UCC3 financing statement. 3. Termination or partial release of collateral: In case the debtor pays off a portion of the debt secured by collateral or if the collateral is no longer required, the addendum allows for the termination or partial release of the collateral from the original financing statement. 4. Addition or removal of secured parties: When there are changes in the secured party's name or address or if the secured party has assigned their interest to another party, this addendum facilitates recording such modifications. By promptly filing a Pasadena Texas UCC3 Financing Statement Amendment Addendum, creditors ensure that their security interests remain enforceable and protected against competing claims. Failure to update the UCC3 financing statement may result in potential loss of priority and increased risk. It's important to note that while the general purpose of this addendum remains the same, the specific types and requirements may vary depending on the state and individual circumstances. Therefore, it's always advisable to consult with legal professionals or the appropriate government authorities for accurate guidance on the specific types and requirements of the Pasadena Texas UCC3 Financing Statement Amendment Addendum.
