Franklin Ohio Financing Statement

• Category: Contracts - Sale of Goods
• State: Multi-State
• County: Franklin
• Control #: US-01693-AZ
• Format: Word; Rich Text

Description

This form is a UCC financing statement, used to record a security interest on personal property. A Franklin Ohio Financing Statement is a legal document that provides public notice of a security interest in personal property in the United States, particularly in Franklin County, Ohio. It is crucial for lenders or creditors to file this statement to protect their rights in case a debtor defaults on their loan obligations. The Franklin Ohio Financing Statement contains relevant information about the secured party (the lender), the debtor (the borrower), and the collateral (personal property). This document is typically filed with the Ohio Secretary of State or the county recorder's office, ensuring that it becomes part of the public record. Keywords: Franklin Ohio, Financing Statement, security interest, personal property, United States, Franklin County, lender, creditor, debtor, loan obligations, Ohio Secretary of State, county recorder's office, public record. Different types of Financing Statements under Franklin Ohio include: 1. UCC-1 Financing Statement: This is the most common form used in Ohio to secure loans against personal property. It encompasses a wide range of collateral types, such as equipment, inventory, receivables, and even intellectual property. 2. UCC-3 Financing Statement Amendment: This document is filed to amend or update an earlier filed UCC-1 Financing Statement. It may reflect changes in collateral, the addition or removal of debtors or secured parties, or the continuation of the security interest after its original five-year term. 3. UCC-5 Information Statement: This statement is submitted to provide additional information or clarify existing information on a previously filed financing statement. It is not used for creating or terminating security interests but rather for perfecting them accurately. 4. UCC-11 Information Request: This type of statement allows interested parties to request information regarding a particular financing statement or debtor. It helps in conducting due diligence before entering into a financial transaction or assessing potential risks associated with a debtor's existing obligations. These different types of Franklin Ohio Financing Statements ensure that lenders and creditors have full legal protection and proper documentation when extending credit or loans against personal property.

A Franklin Ohio Financing Statement is a legal document that provides public notice of a security interest in personal property in the United States, particularly in Franklin County, Ohio. It is crucial for lenders or creditors to file this statement to protect their rights in case a debtor defaults on their loan obligations. The Franklin Ohio Financing Statement contains relevant information about the secured party (the lender), the debtor (the borrower), and the collateral (personal property). This document is typically filed with the Ohio Secretary of State or the county recorder's office, ensuring that it becomes part of the public record. Keywords: Franklin Ohio, Financing Statement, security interest, personal property, United States, Franklin County, lender, creditor, debtor, loan obligations, Ohio Secretary of State, county recorder's office, public record. Different types of Financing Statements under Franklin Ohio include: 1. UCC-1 Financing Statement: This is the most common form used in Ohio to secure loans against personal property. It encompasses a wide range of collateral types, such as equipment, inventory, receivables, and even intellectual property. 2. UCC-3 Financing Statement Amendment: This document is filed to amend or update an earlier filed UCC-1 Financing Statement. It may reflect changes in collateral, the addition or removal of debtors or secured parties, or the continuation of the security interest after its original five-year term. 3. UCC-5 Information Statement: This statement is submitted to provide additional information or clarify existing information on a previously filed financing statement. It is not used for creating or terminating security interests but rather for perfecting them accurately. 4. UCC-11 Information Request: This type of statement allows interested parties to request information regarding a particular financing statement or debtor. It helps in conducting due diligence before entering into a financial transaction or assessing potential risks associated with a debtor's existing obligations. These different types of Franklin Ohio Financing Statements ensure that lenders and creditors have full legal protection and proper documentation when extending credit or loans against personal property.