Oakland Michigan UCC3 Financing Statement Amendment

• Category: Contracts - Uniform Commercial Code - Financing Statements
• State: Multi-State
• County: Oakland
• Control #: US-UCC3
• Format: Word; PDF

Description

UCC3 - Financing Statement Amendment - For use after July 1, 2001. This amendment is to be filed in the real estate records. This Financing Statement complies with all applicable state statutes. Oakland Michigan UCC3 Financing Statement Amendment is a legal document that is used to make changes or updates to an existing UCC3 financing statement filed in Oakland County, Michigan. This amendment plays a crucial role in ensuring accurate and up-to-date information concerning a debtor's collateral, secured party, or any other relevant details. It is essential to file this amendment to reflect any changes in the original financing statement to maintain legal compliance and protect the rights of all parties involved. Some common types of Oakland Michigan UCC3 Financing Statement Amendment include: 1. Name Amendment: This type of amendment is filed when there is a change in the debtor's name due to marriage, divorce, or any other reason. The amendment updates the UCC3 financing statement to reflect the debtor's correct legal name, ensuring that proper identification can be made. 2. Collateral Amendment: If there are changes or additions to the collateral covered by the financing statement, a collateral amendment is filed. It ensures that all parties involved are aware of the specific assets or property that are pledged as collateral in the secured transaction. 3. Secured Party Amendment: When there is a change in the secured party's information, such as name, address, or any other details, a secured party amendment is filed. This amendment ensures that the UCC3 financing statement contains accurate and current information about the secured party. 4. Termination Amendment: In case the debtor has paid off their obligations or the secured party has released their interest in the collateral, a termination amendment is filed to formally terminate or release the financing statement. This amendment legally removes the UCC3 financing statement from public record, indicating that the secured party no longer has an interest in the debtor's collateral. These different types of Oakland Michigan UCC3 Financing Statement Amendments allow for proper recording, transparency, and protection of the rights and interests of all parties involved in a secured transaction. It is crucial to file the appropriate amendment accurately and in a timely manner to avoid any legal complications and ensure clarity in the relevant public records.

Oakland Michigan UCC3 Financing Statement Amendment is a legal document that is used to make changes or updates to an existing UCC3 financing statement filed in Oakland County, Michigan. This amendment plays a crucial role in ensuring accurate and up-to-date information concerning a debtor's collateral, secured party, or any other relevant details. It is essential to file this amendment to reflect any changes in the original financing statement to maintain legal compliance and protect the rights of all parties involved. Some common types of Oakland Michigan UCC3 Financing Statement Amendment include: 1. Name Amendment: This type of amendment is filed when there is a change in the debtor's name due to marriage, divorce, or any other reason. The amendment updates the UCC3 financing statement to reflect the debtor's correct legal name, ensuring that proper identification can be made. 2. Collateral Amendment: If there are changes or additions to the collateral covered by the financing statement, a collateral amendment is filed. It ensures that all parties involved are aware of the specific assets or property that are pledged as collateral in the secured transaction. 3. Secured Party Amendment: When there is a change in the secured party's information, such as name, address, or any other details, a secured party amendment is filed. This amendment ensures that the UCC3 financing statement contains accurate and current information about the secured party. 4. Termination Amendment: In case the debtor has paid off their obligations or the secured party has released their interest in the collateral, a termination amendment is filed to formally terminate or release the financing statement. This amendment legally removes the UCC3 financing statement from public record, indicating that the secured party no longer has an interest in the debtor's collateral. These different types of Oakland Michigan UCC3 Financing Statement Amendments allow for proper recording, transparency, and protection of the rights and interests of all parties involved in a secured transaction. It is crucial to file the appropriate amendment accurately and in a timely manner to avoid any legal complications and ensure clarity in the relevant public records.