Santa Clara California UCC3-AD Financing Statement Amendment Addendum

Name: Santa Clara California UCC3-AD Financing Statement Amendment Addendum
Brand: US Legal Forms
Rating: 4.69 (278 reviews)

Category:

Contracts - Uniform Commercial Code - Financing Statements

State:

Multi-State

County:

Santa Clara

Control #:

US-UCC3-AD

Format:

Instant download

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Description

This Uniform Commercial Code form, a UCC3-AD Financing Statement Amendment Addendum, is for use in the documentation of personal property as collateral for a loan, and related matters. Santa Clara California UCC3-AD Financing Statement Amendment Addendum — Revised 7-29-98 is a legal document that pertains to the amendment of a UCC3-AD financing statement. This document is specific to financial transactions and is commonly used in Santa Clara, California. The Santa Clara California UCC3-AD Financing Statement Amendment Addendum — Revised 7-29-98 serves as an official modification to an existing financing statement. It is crucial to ensure the accuracy of any changes made to the original document, and this addendum provides a structured format to record the amendments effectively. In Santa Clara, California, there may be different types of UCC3-AD Financing Statement Amendment Addendums based on the nature and purpose of the amendment. Some of these types may include: 1. UCC3-AD Financing Statement Amendment Addendum for Collateral Description: This type of addendum is used when there is a need to modify or clarify the description of the collateral covered by the financing statement. It ensures that all parties involved have current and accurate information regarding the secured assets. 2. UCC3-AD Financing Statement Amendment Addendum for Party Information Update: This addendum is utilized when there is a change in the debtor or secured party's details. It allows for the proper recording of updated information, such as name changes, new addresses, or amended contact information. 3. UCC3-AD Financing Statement Amendment Addendum for Termination: When a financing statement is no longer applicable, this addendum is used to terminate or remove it from the public records. It ensures that the original filing is cleared and no longer remains in effect. 4. UCC3-AD Financing Statement Amendment Addendum for Continuation: In case the initial financing statement is nearing its expiration date, this addendum allows for the continuation of the filing. It extends the duration of the security interest and ensures that it remains valid and enforceable. When preparing a Santa Clara California UCC3-AD Financing Statement Amendment Addendum — Revised 7-29-98, accuracy and adherence to legal requirements are vital. It is advisable to consult with legal professionals or experts well-versed in UCC regulations to ensure compliance and avoid potential issues.

Santa Clara California UCC3-AD Financing Statement Amendment Addendum — Revised 7-29-98 is a legal document that pertains to the amendment of a UCC3-AD financing statement. This document is specific to financial transactions and is commonly used in Santa Clara, California. The Santa Clara California UCC3-AD Financing Statement Amendment Addendum — Revised 7-29-98 serves as an official modification to an existing financing statement. It is crucial to ensure the accuracy of any changes made to the original document, and this addendum provides a structured format to record the amendments effectively. In Santa Clara, California, there may be different types of UCC3-AD Financing Statement Amendment Addendums based on the nature and purpose of the amendment. Some of these types may include: 1. UCC3-AD Financing Statement Amendment Addendum for Collateral Description: This type of addendum is used when there is a need to modify or clarify the description of the collateral covered by the financing statement. It ensures that all parties involved have current and accurate information regarding the secured assets. 2. UCC3-AD Financing Statement Amendment Addendum for Party Information Update: This addendum is utilized when there is a change in the debtor or secured party's details. It allows for the proper recording of updated information, such as name changes, new addresses, or amended contact information. 3. UCC3-AD Financing Statement Amendment Addendum for Termination: When a financing statement is no longer applicable, this addendum is used to terminate or remove it from the public records. It ensures that the original filing is cleared and no longer remains in effect. 4. UCC3-AD Financing Statement Amendment Addendum for Continuation: In case the initial financing statement is nearing its expiration date, this addendum allows for the continuation of the filing. It extends the duration of the security interest and ensures that it remains valid and enforceable. When preparing a Santa Clara California UCC3-AD Financing Statement Amendment Addendum — Revised 7-29-98, accuracy and adherence to legal requirements are vital. It is advisable to consult with legal professionals or experts well-versed in UCC regulations to ensure compliance and avoid potential issues.

How to fill out Santa Clara California UCC3-AD Financing Statement Amendment Addendum?

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FAQ

Also known as a continuation statement. The amendment used to extend the effectiveness of a UCC-1 beyond the date which is five years after the date of its filing.

To do so you will generally need to make a trip in person down to your secretary of state's office. Once there, you will be able to swear under oath that you've satisfied the debt in full and wish to request for the UCC-1 filing to be removed.

3 termination statement (a Termination) is a required filing that terminates a security interest that has been perfected by a UCC1 filing. A Termination for personal property is accomplished by completing and filing form UCC3 with the Secretary of State's office in the appropriate state.

To amend your collateral description, click the button labeled View/Amend Collateral. After clicking this button, a pop-up will appear and will display the current collateral description and provide options to Add Collateral, Delete Collateral or Change Collateral.

If the debtor (or another creditor) filed the Termination without proper authority and then the secured party of record filed a Continuation, the Continuation would extend the term of effectiveness for the Financing Statement since the Termination was not valid.

UCC. A UCC3 is a change statement to a UCC1. It's an amendment filing to an original UCC1 financing statement that changes or adds information to the originally filed UCC1. It's a filing tool secured parties use to manage their UCC portfolio to maintain their perfected security interests.

Whether you are amending a filing or terminating a filing, if you are redirected to the UCC Services Request form, complete all tabs of the service request you can do this by making the changes and then clicking Next on the bottom right of the screen. Next till you can't next no more! and then click Submit.

How long does a UCC filing last? A UCC-1 filing is good for five years. After five years, it is considered lapsed and no longer valid. Should your debtor remain in debt to you and encounter financial difficulty or file for bankruptcy, you have no secured interest if your UCC-1 filing has lapsed.

A UCC3 is a change statement to a UCC1. It's an amendment filing to an original UCC1 financing statement that changes or adds information to the originally filed UCC1. It's a filing tool secured parties use to manage their UCC portfolio to maintain their perfected security interests.

Santa Clara California UCC3-AD Financing Statement Amendment Addendum

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