UCC3 - Financing Statement Amendment - Texas - For use after July 1, 2001. This amendment is to be filed in the real estate records. This Financing Statement complies with all applicable state statutes.
San Angelo Texas UCC3 Financing Statement Amendment is a legal document used to modify or update the previously filed UCC3 Financing Statement in the state of Texas. The UCC3 Financing Statement is typically filed by a secured party to provide public notice of their security interest in specific collateral owned by a debtor. When circumstances change, it may require amendments to the initial filing. The San Angelo Texas UCC3 Financing Statement Amendment is an important document that ensures accuracy and completeness of the original filing. It allows secured parties to reflect changes in security interests, including amendments to collateral descriptions, modifications to debtor information, or alterations to the original financing statement's duration. Several types of UCC3 Financing Statement Amendments exist, including: 1. Collateral Amendment: This type of amendment is used when there is a need to add, remove, or change the collateral listed on the original financing statement. For example, if a debtor has acquired new assets that need to be included in the security interest, a collateral amendment is filed. 2. Debtor Information Amendment: When there are changes to the debtor's personal or business information, such as name, address, or organizational structure, a debtor information amendment is filed. This amendment ensures accurate and up-to-date information is available for potential creditors who may seek to enter into financing agreements with the debtor. 3. Termination Statement: A termination statement is used to cancel or terminate an existing UCC3 Financing Statement. This is typically filed when the debt has been paid off or when the secured party no longer has an interest in the collateral. 4. Continuation Statement: A continuation statement is filed to extend the duration of the original UCC3 Financing Statement. In Texas, the initial filing is effective for five years, and a continuation statement can be filed before it expires to extend the security interest for an additional five-year period. 5. Amendment with Secured Party Change: In cases where the secured party assigned or transferred their interest to another party, an amendment with secured party change is filed. This ensures that the new secured party's information is reflected in the filing, providing proper notice to other potential creditors. It is crucial to carry out UCC3 Financing Statement Amendments appropriately and promptly to maintain the accuracy and validity of the security interest. Properly filed amendments protect the rights and interests of both secured parties and debtors and ensure transparency in commercial transactions within San Angelo, Texas.San Angelo Texas UCC3 Financing Statement Amendment is a legal document used to modify or update the previously filed UCC3 Financing Statement in the state of Texas. The UCC3 Financing Statement is typically filed by a secured party to provide public notice of their security interest in specific collateral owned by a debtor. When circumstances change, it may require amendments to the initial filing. The San Angelo Texas UCC3 Financing Statement Amendment is an important document that ensures accuracy and completeness of the original filing. It allows secured parties to reflect changes in security interests, including amendments to collateral descriptions, modifications to debtor information, or alterations to the original financing statement's duration. Several types of UCC3 Financing Statement Amendments exist, including: 1. Collateral Amendment: This type of amendment is used when there is a need to add, remove, or change the collateral listed on the original financing statement. For example, if a debtor has acquired new assets that need to be included in the security interest, a collateral amendment is filed. 2. Debtor Information Amendment: When there are changes to the debtor's personal or business information, such as name, address, or organizational structure, a debtor information amendment is filed. This amendment ensures accurate and up-to-date information is available for potential creditors who may seek to enter into financing agreements with the debtor. 3. Termination Statement: A termination statement is used to cancel or terminate an existing UCC3 Financing Statement. This is typically filed when the debt has been paid off or when the secured party no longer has an interest in the collateral. 4. Continuation Statement: A continuation statement is filed to extend the duration of the original UCC3 Financing Statement. In Texas, the initial filing is effective for five years, and a continuation statement can be filed before it expires to extend the security interest for an additional five-year period. 5. Amendment with Secured Party Change: In cases where the secured party assigned or transferred their interest to another party, an amendment with secured party change is filed. This ensures that the new secured party's information is reflected in the filing, providing proper notice to other potential creditors. It is crucial to carry out UCC3 Financing Statement Amendments appropriately and promptly to maintain the accuracy and validity of the security interest. Properly filed amendments protect the rights and interests of both secured parties and debtors and ensure transparency in commercial transactions within San Angelo, Texas.