This is the "National UCC Finanacing Statement," and it is an American Lawyer Media form. It contains an acknowledgement copy, a debtor copy, a search request copy, and the secured party's copy.
The San Antonio Texas UCC Financing Statement serves as a legal document used to secure the rights of a creditor against a debtor's personal property, ensuring successful lateralization of loans or debts. Filed under the Uniform Commercial Code (UCC), this statement provides crucial information about the transaction, parties involved, and the collateral being used as security. In San Antonio, Texas, there are several types of UCC Financing Statements available, each serving a specific purpose: 1. Original Financing Statement: This form is used to file the initial notice of a creditor's security interest in a debtor's personal property. It typically includes details such as the debtor and creditor's names and addresses, a description of the collateral, and the duration of the security interest. 2. Amendment Financing Statement: Used when there are changes made to an already filed original financing statement, an amendment financing statement updates or modifies the previously recorded information. This could include changes in collateral, debtor information, or creditor's information. 3. Termination Financing Statement: When a debt is fully paid off or the security interest is no longer valid, a termination financing statement is filed to officially release the creditor's claim on the debtor's collateral. It effectively terminates the security interest and removes it from public record. 4. Assignment of Security Interest: While not a specific type of financing statement, an assignment is the legal transfer of a creditor's rights or interest in collateral to another party. This is often utilized when a creditor wishes to transfer their security interest to a different entity. The assignment must be properly documented and filed with UCC forms to ensure legal validity and maintain a clear chain of ownership. In summary, the San Antonio Texas UCC Financing Statement is a vital legal document used to establish and protect a creditor's rights in a debtor's personal property. By filing the appropriate type of financing statement, creditors can ensure their security interests remain valid, while debtors and prospective buyers can review the public records before engaging in transactions involving personal property.The San Antonio Texas UCC Financing Statement serves as a legal document used to secure the rights of a creditor against a debtor's personal property, ensuring successful lateralization of loans or debts. Filed under the Uniform Commercial Code (UCC), this statement provides crucial information about the transaction, parties involved, and the collateral being used as security. In San Antonio, Texas, there are several types of UCC Financing Statements available, each serving a specific purpose: 1. Original Financing Statement: This form is used to file the initial notice of a creditor's security interest in a debtor's personal property. It typically includes details such as the debtor and creditor's names and addresses, a description of the collateral, and the duration of the security interest. 2. Amendment Financing Statement: Used when there are changes made to an already filed original financing statement, an amendment financing statement updates or modifies the previously recorded information. This could include changes in collateral, debtor information, or creditor's information. 3. Termination Financing Statement: When a debt is fully paid off or the security interest is no longer valid, a termination financing statement is filed to officially release the creditor's claim on the debtor's collateral. It effectively terminates the security interest and removes it from public record. 4. Assignment of Security Interest: While not a specific type of financing statement, an assignment is the legal transfer of a creditor's rights or interest in collateral to another party. This is often utilized when a creditor wishes to transfer their security interest to a different entity. The assignment must be properly documented and filed with UCC forms to ensure legal validity and maintain a clear chain of ownership. In summary, the San Antonio Texas UCC Financing Statement is a vital legal document used to establish and protect a creditor's rights in a debtor's personal property. By filing the appropriate type of financing statement, creditors can ensure their security interests remain valid, while debtors and prospective buyers can review the public records before engaging in transactions involving personal property.
