Hillsborough Florida UCC1 National Financial Statement

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

Description

UCC1 - National Financial Statement - For use after July 1, 2001. This form is a financing statement used to cover certain collateral as specified in the form. This Financing Statement complies will all applicable state laws. Hillsborough Florida UCC1 National Financial Statement is a legal document used to establish a secured interest in personal property by a creditor in Hillsborough County, Florida, United States. It is governed by the Uniform Commercial Code (UCC), specifically Article 9, which outlines rules and regulations for secured transactions. The UCC1 National Financial Statement serves as a public record, providing information about the debtor, the secured party, and the collateral covered by the financial statement. It is filed with the Hillsborough County Clerk of Court and is accessible to the public for verification and due diligence purposes. Key elements included in the Hillsborough Florida UCC1 National Financial Statement are: 1. Debtor Information: This section provides detailed information about the debtor, including their legal name, address, and taxpayer identification number. It is essential to accurately identify the debtor to ensure proper record keeping and legal compliance. 2. Secured Party Information: The UCC1 financial statement requires the secured party to provide their name and address. This section specifies who has a secured interest in the collateral and acts as a point of contact regarding the transaction. 3. Collateral Description: A thorough description of the collateral being used as security is a crucial component of a UCC1 financial statement. It includes details such as make, model, serial numbers, and any additional identifying characteristics of the property. 4. Financing Statement Perfection: This section indicates the date and time the financial statement becomes legally effective. Filing the statement with the Hillsborough County Clerk of Court initiates public notice, alerting other potential creditors about the secured interest. Different types of UCC1 National Financial Statements in Hillsborough Florida can include: 1. Initial Financing Statement: This type of financial statement is filed when a creditor first establishes a secured interest in the debtor's collateral. It serves as public notice of the creditor's claim. 2. Amendment Financing Statement: An amendment is filed when there is a change to the originally filed UCC1 statement. This can involve updating debtor or secured party information, modifying the collateral description, or extending the filing period. 3. Continuation Financing Statement: Filed before the expiration of the original filing period, a continuation statement extends the validity of the initial financial statement. It provides protection to the secured party if the collateral remains under the debtor's possession. 4. Termination Financing Statement: This statement is filed when the secured party no longer has a claim on the collateral or when the debt is completely satisfied. It removes the public record of the secured transaction and releases the debtor from any obligation. In summary, the Hillsborough Florida UCC1 National Financial Statement is a crucial tool for creditors to establish and protect their secured interest in personal property. Understanding the different types and their specific requirements is essential for successful filing and compliance with the Uniform Commercial Code in Hillsborough County, Florida.

Hillsborough Florida UCC1 National Financial Statement is a legal document used to establish a secured interest in personal property by a creditor in Hillsborough County, Florida, United States. It is governed by the Uniform Commercial Code (UCC), specifically Article 9, which outlines rules and regulations for secured transactions. The UCC1 National Financial Statement serves as a public record, providing information about the debtor, the secured party, and the collateral covered by the financial statement. It is filed with the Hillsborough County Clerk of Court and is accessible to the public for verification and due diligence purposes. Key elements included in the Hillsborough Florida UCC1 National Financial Statement are: 1. Debtor Information: This section provides detailed information about the debtor, including their legal name, address, and taxpayer identification number. It is essential to accurately identify the debtor to ensure proper record keeping and legal compliance. 2. Secured Party Information: The UCC1 financial statement requires the secured party to provide their name and address. This section specifies who has a secured interest in the collateral and acts as a point of contact regarding the transaction. 3. Collateral Description: A thorough description of the collateral being used as security is a crucial component of a UCC1 financial statement. It includes details such as make, model, serial numbers, and any additional identifying characteristics of the property. 4. Financing Statement Perfection: This section indicates the date and time the financial statement becomes legally effective. Filing the statement with the Hillsborough County Clerk of Court initiates public notice, alerting other potential creditors about the secured interest. Different types of UCC1 National Financial Statements in Hillsborough Florida can include: 1. Initial Financing Statement: This type of financial statement is filed when a creditor first establishes a secured interest in the debtor's collateral. It serves as public notice of the creditor's claim. 2. Amendment Financing Statement: An amendment is filed when there is a change to the originally filed UCC1 statement. This can involve updating debtor or secured party information, modifying the collateral description, or extending the filing period. 3. Continuation Financing Statement: Filed before the expiration of the original filing period, a continuation statement extends the validity of the initial financial statement. It provides protection to the secured party if the collateral remains under the debtor's possession. 4. Termination Financing Statement: This statement is filed when the secured party no longer has a claim on the collateral or when the debt is completely satisfied. It removes the public record of the secured transaction and releases the debtor from any obligation. In summary, the Hillsborough Florida UCC1 National Financial Statement is a crucial tool for creditors to establish and protect their secured interest in personal property. Understanding the different types and their specific requirements is essential for successful filing and compliance with the Uniform Commercial Code in Hillsborough County, Florida.