Hennepin Minnesota UCC3 Financing Statement Amendment is a legal document filed with the Minnesota Secretary of State to make changes or updates to an existing UCC3 Financing Statement in Hennepin County, Minnesota. This amendment serves to modify or correct information previously provided in the original filing. The UCC3 Financing Statement Amendment is crucial in ensuring the accuracy and validity of secured transactions involving personal property collateral, providing interested parties with updated and correct information. It is essential to promptly amend the financing statement to avoid any potential errors or conflicts that may arise from incorrect or outdated information. Some common types of Hennepin Minnesota UCC3 Financing Statement Amendments may include: 1. Change in Collateral Description: This amendment is used when there is a need to modify or revise the description of the collateral initially listed in the original financing statement. It clarifies and provides a more accurate depiction of the property being used as security for the debt. 2. Correction of Debtor Information: This amendment is filed to rectify any inaccuracies or errors in the debtor's legal name, address, or other identifying information. It ensures that the secured party can accurately identify and locate the debtor in case of default or other related matters. 3. Assignment or Termination of Security Interest: This type of amendment is used when there is a transfer or assignment of the security interest from the secured party to another party or when the security interest is being terminated or released entirely. 4. Addition or Removal of Secured Party: In some cases, an amendment may be required to add or remove secured parties from the original financing statement. This often occurs when there are changes in ownership or assignment of the security interest. 5. Amendment to Correct Filing Errors: If any mistakes or errors were made in the original filing, such as typographical errors or incorrect dates, an amendment is filed to rectify those errors and ensure the accuracy of the record. It is important to consult legal counsel or professional services knowledgeable in UCC filings to ensure compliance with the specific requirements and procedures of Hennepin County, Minnesota. Accuracy and timeliness in filing amendments are crucial in maintaining valid and enforceable security interests in secured transactions.