Kings New York Financing Statement

• Category: Contracts - Sale of Goods
• State: Multi-State
• County: Kings
• 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. Kings New York Financing Statement, also known as a UCC-1 Financing Statement, is a legal document used to establish a creditor's security interest in a borrower's assets located in Kings County, New York. Primarily governed by Article 9 of the Uniform Commercial Code (UCC), this statement serves to notify interested parties that a particular creditor has a claim on the collateral specified in the document. The purpose of a Kings New York Financing Statement is to publicly record and disclose the details of a loan or credit transaction. By filing this statement with the New York Secretary of State, creditors protect their rights and ensure priority in case of the borrower's default, bankruptcy, or the sale of assets. This filing system helps provide security for lenders and promotes transparency in commercial transactions. The Kings New York Financing Statement contains important information such as the names and addresses of the debtor (borrower) and secured party (creditor), a description of the collateral, and any other necessary details. It should accurately identify both parties and provide a clear description of the assets serving as collateral. This information helps establish the priority of the creditor's claim against other potential claimants. There are no specific types of Kings New York Financing Statements. However, different versions may exist based on the nature of the loan and the type of collateral involved. For example, financing statements could vary for transactions involving real estate, personal property, intellectual property, or even agricultural products. The content and format of the statement may differ depending on the specific circumstances of the loan agreement. In conclusion, Kings New York Financing Statement, also known as UCC-1 Financing Statement, is a crucial legal document utilized by creditors to establish their security interest in a borrower's assets. By filing this statement with the New York Secretary of State, creditors protect their rights and maintain priority in loan transactions. The statement should accurately identify the parties involved and provide a clear description of the collateral. Different variations of this statement exist based on the type of loan and collateral involved, ensuring its relevance across a wide range of industries and transactions.

Kings New York Financing Statement, also known as a UCC-1 Financing Statement, is a legal document used to establish a creditor's security interest in a borrower's assets located in Kings County, New York. Primarily governed by Article 9 of the Uniform Commercial Code (UCC), this statement serves to notify interested parties that a particular creditor has a claim on the collateral specified in the document. The purpose of a Kings New York Financing Statement is to publicly record and disclose the details of a loan or credit transaction. By filing this statement with the New York Secretary of State, creditors protect their rights and ensure priority in case of the borrower's default, bankruptcy, or the sale of assets. This filing system helps provide security for lenders and promotes transparency in commercial transactions. The Kings New York Financing Statement contains important information such as the names and addresses of the debtor (borrower) and secured party (creditor), a description of the collateral, and any other necessary details. It should accurately identify both parties and provide a clear description of the assets serving as collateral. This information helps establish the priority of the creditor's claim against other potential claimants. There are no specific types of Kings New York Financing Statements. However, different versions may exist based on the nature of the loan and the type of collateral involved. For example, financing statements could vary for transactions involving real estate, personal property, intellectual property, or even agricultural products. The content and format of the statement may differ depending on the specific circumstances of the loan agreement. In conclusion, Kings New York Financing Statement, also known as UCC-1 Financing Statement, is a crucial legal document utilized by creditors to establish their security interest in a borrower's assets. By filing this statement with the New York Secretary of State, creditors protect their rights and maintain priority in loan transactions. The statement should accurately identify the parties involved and provide a clear description of the collateral. Different variations of this statement exist based on the type of loan and collateral involved, ensuring its relevance across a wide range of industries and transactions.