This Uniform Commercial Code form, a UCC3-AD - Financing Statement - Texas, is for use in the documentation of personal property as collateral for a loan, and related matters.
The Fort Worth Texas UCC3-AD — Financing Statement is a legal document used to provide notice of a security interest in specific types of personal property. It is governed by the Uniform Commercial Code (UCC) Article 9, which provides guidelines for secured transactions in the United States. In Fort Worth, Texas, this document is used to establish and perfect a security interest in personal property owned by a debtor in favor of a secured party. The UCC3-AD — Financing Statement contains essential information about the security interest, including the names and addresses of both the debtor and the secured party. It also includes a detailed description of the collateral, identifying the specific types of personal property that are subject to the security interest. Keywords often found in the description might include "equipment," "inventory," "accounts receivable," "fixtures," "general intangibles," or "other goods." The collateral description in the UCC3-AD — Financing Statement must be reasonably specific to provide notice to third parties and allow for accurate identification of the property covered by the security interest. It is crucial for the secured party to ensure that the description is comprehensive and accurately captures the property intended to be covered. In Fort Worth, Texas, multiple types of UCC3-AD — Financing Statements can be filed based on the specific circumstances. Some common types include the: 1. UCC3-AD Financing Statement — This is the most general type of financing statement used to establish a security interest in personal property. 2. UCC3-AD Financing Statement Amendment — This form is utilized to make changes or amendments to an existing UCC3-AD financing statement. It may involve adding additional collateral, modifying the debtor or secured party information, or extending the expiration date of the security interest. 3. UCC3-AD Financing Statement Continuation — This type of financing statement is used to extend the duration of a security interest beyond its initial expiration date. A continuation statement must be filed before the expiration of the initial filing to maintain the priority of the security interest. 4. UCC3-AD Financing Statement Termination — A termination statement is filed to release or terminate a security interest. This document is typically filed when a debt has been fully paid off or when the secured party no longer has an interest in the collateral. It is crucial to file the appropriate type of UCC3-AD — Financing Statement accurately to ensure proper documentation and compliance with legal requirements. These documents play a significant role in establishing and maintaining priority in secured transactions in Fort Worth, Texas, while providing notice to interested parties about the existence of a security interest.The Fort Worth Texas UCC3-AD — Financing Statement is a legal document used to provide notice of a security interest in specific types of personal property. It is governed by the Uniform Commercial Code (UCC) Article 9, which provides guidelines for secured transactions in the United States. In Fort Worth, Texas, this document is used to establish and perfect a security interest in personal property owned by a debtor in favor of a secured party. The UCC3-AD — Financing Statement contains essential information about the security interest, including the names and addresses of both the debtor and the secured party. It also includes a detailed description of the collateral, identifying the specific types of personal property that are subject to the security interest. Keywords often found in the description might include "equipment," "inventory," "accounts receivable," "fixtures," "general intangibles," or "other goods." The collateral description in the UCC3-AD — Financing Statement must be reasonably specific to provide notice to third parties and allow for accurate identification of the property covered by the security interest. It is crucial for the secured party to ensure that the description is comprehensive and accurately captures the property intended to be covered. In Fort Worth, Texas, multiple types of UCC3-AD — Financing Statements can be filed based on the specific circumstances. Some common types include the: 1. UCC3-AD Financing Statement — This is the most general type of financing statement used to establish a security interest in personal property. 2. UCC3-AD Financing Statement Amendment — This form is utilized to make changes or amendments to an existing UCC3-AD financing statement. It may involve adding additional collateral, modifying the debtor or secured party information, or extending the expiration date of the security interest. 3. UCC3-AD Financing Statement Continuation — This type of financing statement is used to extend the duration of a security interest beyond its initial expiration date. A continuation statement must be filed before the expiration of the initial filing to maintain the priority of the security interest. 4. UCC3-AD Financing Statement Termination — A termination statement is filed to release or terminate a security interest. This document is typically filed when a debt has been fully paid off or when the secured party no longer has an interest in the collateral. It is crucial to file the appropriate type of UCC3-AD — Financing Statement accurately to ensure proper documentation and compliance with legal requirements. These documents play a significant role in establishing and maintaining priority in secured transactions in Fort Worth, Texas, while providing notice to interested parties about the existence of a security interest.
