Maricopa Arizona UCC1-AD Financing Statement Addendum

• Category: Contracts - Uniform Commercial Code - Financing Statements
• State: Multi-State
• County: Maricopa
• Control #: US-UCC1-AD
• Format: Word; PDF

Description

This form is a UCC Financing Statement Addendum for use in documenting personal property used as collateral for a loan. Available in Word and Adobe pdf format. Maricopa, Arizona UCC1-AD Financing Statement Addendum serves as an important legal document that accompanies the UCC1 Financing Statement. This addendum is used to provide additional details or amendments to the original financing statement filed with the Arizona Secretary of State. It plays a crucial role in ensuring accuracy and completeness of the UCC1 filings. The UCC1-AD Financing Statement Addendum in Maricopa, Arizona includes various types that cater to specific circumstances. Here are some of the common types: 1. Amendment Addendum: This type of addendum is used when modifications need to be made to the previously filed financing statement. It allows the secured party to add, correct, or update crucial information such as collateral description, debtor details, or any other relevant information. 2. Continuation Addendum: A continuation addendum is utilized when the initial financing statement has reached its expiration date, typically after five years. It enables the secured party to extend the validity of the original filing, ensuring their security interest remains intact. 3. Termination Addendum: When a secured party's interest in a collateral has ceased, a termination addendum is filed. This addendum allows the secured party to formally inform the relevant authorities and interested parties that their security interest has been released. 4. Assignment Addendum: In the case of a transfer of security interest, an assignment addendum is filed. It enables the secured party to assign their rights and interest, including all obligations under the original financing statement, to a third party. 5. Amendment and Assignment Addendum: This type of addendum combines the elements of both the amendment and assignment addendums. It facilitates changes to the initial financing statement and the assignment of the security interest to another party concurrently. It is essential to understand that these addenda are essential components for maintaining the accuracy and validity of UCC1 filing in Maricopa, Arizona. Filers must ensure that they select the appropriate addendum type and provide accurate information to prevent any legal issues or disputes in the future. Professional assistance or legal advice may be beneficial to ensure adherence to the specific requirements and guidelines set by the Arizona Secretary of State.

Maricopa, Arizona UCC1-AD Financing Statement Addendum serves as an important legal document that accompanies the UCC1 Financing Statement. This addendum is used to provide additional details or amendments to the original financing statement filed with the Arizona Secretary of State. It plays a crucial role in ensuring accuracy and completeness of the UCC1 filings. The UCC1-AD Financing Statement Addendum in Maricopa, Arizona includes various types that cater to specific circumstances. Here are some of the common types: 1. Amendment Addendum: This type of addendum is used when modifications need to be made to the previously filed financing statement. It allows the secured party to add, correct, or update crucial information such as collateral description, debtor details, or any other relevant information. 2. Continuation Addendum: A continuation addendum is utilized when the initial financing statement has reached its expiration date, typically after five years. It enables the secured party to extend the validity of the original filing, ensuring their security interest remains intact. 3. Termination Addendum: When a secured party's interest in a collateral has ceased, a termination addendum is filed. This addendum allows the secured party to formally inform the relevant authorities and interested parties that their security interest has been released. 4. Assignment Addendum: In the case of a transfer of security interest, an assignment addendum is filed. It enables the secured party to assign their rights and interest, including all obligations under the original financing statement, to a third party. 5. Amendment and Assignment Addendum: This type of addendum combines the elements of both the amendment and assignment addendums. It facilitates changes to the initial financing statement and the assignment of the security interest to another party concurrently. It is essential to understand that these addenda are essential components for maintaining the accuracy and validity of UCC1 filing in Maricopa, Arizona. Filers must ensure that they select the appropriate addendum type and provide accurate information to prevent any legal issues or disputes in the future. Professional assistance or legal advice may be beneficial to ensure adherence to the specific requirements and guidelines set by the Arizona Secretary of State.