Suffolk New York UCC3 Financing Statement Amendment

• Category: Contracts - Uniform Commercial Code - Financing Statements
• State: Multi-State
• County: Suffolk
• 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. The Suffolk New York UCC3 Financing Statement Amendment is a legal document used to modify or update an existing UCC3 Financing Statement filed in Suffolk County, New York. UCC3 refers to the Uniform Commercial Code (UCC) Article 3, which governs negotiable instruments such as promissory notes and checks. This amendment is necessary when there is a need to change any information provided in the original UCC3 Financing Statement. It ensures that accurate and up-to-date information about security interests and collateral is reflected in the public records. Some common reasons for filing a Suffolk New York UCC3 Financing Statement Amendment may include: 1. Change in Secured Party Information: If there is a change in the name or address of the secured party (lender) listed in the original filing, an amendment must be filed to reflect this modification accurately. 2. Amended Collateral Description: This type of amendment is required when there is a need to alter or provide additional details about the collateral pledged as security for the debt. 3. Termination of Security Interest: In cases where the debt has been fully repaid or the security interest is no longer valid, a termination statement must be filed to remove the original UCC3 Financing Statement from the public records. 4. Continuation of Lien: If the original UCC3 Financing Statement is set to expire, but the security interest is still valid, a continuation statement must be filed to extend the lien against the collateral for an additional period. 5. Correction of Filing Errors: An amendment may also be filed to correct any mistakes or errors made in the original UCC3 Financing Statement, ensuring accuracy and compliance with legal requirements. By filing a Suffolk New York UCC3 Financing Statement Amendment, parties involved in financial transactions can maintain accurate and updated information related to security interests. This documentation is crucial for creditors and debtors to establish priorities, protect their interests, and create a transparent transaction environment. Please note that specific instructions and requirements for filing a Suffolk New York UCC3 Financing Statement Amendment may vary, and it is always advisable to consult with legal professionals or the Suffolk County Clerk's office for the most accurate and current information.

The Suffolk New York UCC3 Financing Statement Amendment is a legal document used to modify or update an existing UCC3 Financing Statement filed in Suffolk County, New York. UCC3 refers to the Uniform Commercial Code (UCC) Article 3, which governs negotiable instruments such as promissory notes and checks. This amendment is necessary when there is a need to change any information provided in the original UCC3 Financing Statement. It ensures that accurate and up-to-date information about security interests and collateral is reflected in the public records. Some common reasons for filing a Suffolk New York UCC3 Financing Statement Amendment may include: 1. Change in Secured Party Information: If there is a change in the name or address of the secured party (lender) listed in the original filing, an amendment must be filed to reflect this modification accurately. 2. Amended Collateral Description: This type of amendment is required when there is a need to alter or provide additional details about the collateral pledged as security for the debt. 3. Termination of Security Interest: In cases where the debt has been fully repaid or the security interest is no longer valid, a termination statement must be filed to remove the original UCC3 Financing Statement from the public records. 4. Continuation of Lien: If the original UCC3 Financing Statement is set to expire, but the security interest is still valid, a continuation statement must be filed to extend the lien against the collateral for an additional period. 5. Correction of Filing Errors: An amendment may also be filed to correct any mistakes or errors made in the original UCC3 Financing Statement, ensuring accuracy and compliance with legal requirements. By filing a Suffolk New York UCC3 Financing Statement Amendment, parties involved in financial transactions can maintain accurate and updated information related to security interests. This documentation is crucial for creditors and debtors to establish priorities, protect their interests, and create a transparent transaction environment. Please note that specific instructions and requirements for filing a Suffolk New York UCC3 Financing Statement Amendment may vary, and it is always advisable to consult with legal professionals or the Suffolk County Clerk's office for the most accurate and current information.