The Houston Texas UCC1-AD Financing Statement Addendum is a legally binding document related to the Uniform Commercial Code (UCC) that provides additional information to the UCC1 Financing Statement. This addendum allows for extra details to be included, facilitating more thorough documentation of financial transactions and security interests. The UCC1-AD Financing Statement Addendum in Houston, Texas, serves as an extension to the initial UCC1 Financing Statement, enhancing the level of specificity and clarity necessary for effective financial record-keeping. It is imperative to understand that this addendum is not a standalone document but rather an attachment to the original UCC1 Financing Statement. By filing a UCC1-AD Financing Statement Addendum in Houston, Texas, lenders and secured parties can provide supplementary information, which becomes part of the public record. This additional data caters to the unique requirements of different loan types, ensuring a comprehensive representation of the involved parties' interests. Key variations of the Houston Texas UCC1-AD Financing Statement Addendum may include: 1. Filing Purpose: This type of addendum is utilized when the purpose of filing the financing statement is not covered by the standard UCC1 form. It specifies the intention behind the filing and clarifies any unique circumstances associated with the transaction. 2. Collateral Description: This addendum type elaborates on the collateral being used as security for a loan or transaction. It includes specific details about the collateral, such as its nature, quantity, quality, and any identifying information, allowing for a precise definition of the security interest. 3. Amendment Addendum: An amendment addendum is filed to modify or amend an existing UCC1 Financing Statement. It revises or updates the information previously provided in the original filing, rectifying any mistakes, or reflecting changes in the parties, collateral, loan terms, or termination dates. 4. Debtor Information Addendum: This type of addendum focuses on providing additional details about the debtor, such as their legal name, address, and other identifying information that might have been missing or incomplete in the initial filing. It ensures accurate and complete representation of the debtor's information. Understanding the nuances within Houston Texas UCC1-AD Financing Statement Addendums is crucial to guaranteeing compliance with legal requirements and avoiding any potential disputes or errors.
Houston Texas UCC1-AD Financing Statement Addendum
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