Harris Texas UCC5 National Correction Statement

State:
Multi-State
County:
Harris
Control #:
US-UCC5
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Description

This form is a UCC National Correction Statementfor use in documenting personal property used as collateral for a loan. Available in Adobe pdf format.
The Harris Texas UCC5 National Correction Statement is a legal document that allows individuals to correct errors or inaccuracies in their previously filed UCC5 records in the state of Texas. The UCC5 stands for Uniform Commercial Code Section 5, which deals with the amendment or correction of UCC records. This correction statement is particularly relevant for businesses, organizations, or individuals who have previously filed UCC5 records with the Harris County Clerk's Office in Texas and have identified mistakes or discrepancies in their filings. It provides them with the opportunity to rectify any errors, ensuring that the public record is accurate and up to date. The Harris Texas UCC5 National Correction Statement is essential in maintaining the integrity and transparency of commercial transactions, as UCC records play a crucial role in establishing priority rights and providing information about secured interests against specific assets or properties. Different types or scenarios where a Harris Texas UCC5 National Correction Statement might be necessary include: 1. Typographical or clerical errors: This could involve correcting misspelled names, incorrect addresses, wrong dates, or inaccurate identification numbers. 2. Amendment of collateral information: If there is a need to change or revise the description of collateral assets listed in the original UCC filing due to errors or changes in circumstances. 3. Addition or removal of secured parties: If there is a need to add or remove a secured party due to a change in ownership, termination of security interest, or any other relevant circumstance. 4. Adding or revising information related to the debtor: This could include correcting the legal name of the debtor, adding additional trade names, or updating the debtor's contact information. 5. Other correction scenarios: Any other inconsistencies, omissions, or inaccuracies discovered in the original UCC5 filing that require an amendment or correction. By filing the Harris Texas UCC5 National Correction Statement, individuals can ensure that their UCC records effectively reflect the accurate details of their secured transactions, maintain legal compliance, and minimize any potential conflicts or disputes related to the validity or priority of secured claims. Keywords: Harris Texas, UCC5 National Correction Statement, UCC5 records, Harris County Clerk's Office, correction statement, Uniform Commercial Code Section 5, amendment, correction, legal document, rectify errors, commercial transactions, integrity, transparency, typographical errors, clerical errors, collateral information, secured parties, debtor, legal name, trade names, filing, accuracy, validity, priority rights.

The Harris Texas UCC5 National Correction Statement is a legal document that allows individuals to correct errors or inaccuracies in their previously filed UCC5 records in the state of Texas. The UCC5 stands for Uniform Commercial Code Section 5, which deals with the amendment or correction of UCC records. This correction statement is particularly relevant for businesses, organizations, or individuals who have previously filed UCC5 records with the Harris County Clerk's Office in Texas and have identified mistakes or discrepancies in their filings. It provides them with the opportunity to rectify any errors, ensuring that the public record is accurate and up to date. The Harris Texas UCC5 National Correction Statement is essential in maintaining the integrity and transparency of commercial transactions, as UCC records play a crucial role in establishing priority rights and providing information about secured interests against specific assets or properties. Different types or scenarios where a Harris Texas UCC5 National Correction Statement might be necessary include: 1. Typographical or clerical errors: This could involve correcting misspelled names, incorrect addresses, wrong dates, or inaccurate identification numbers. 2. Amendment of collateral information: If there is a need to change or revise the description of collateral assets listed in the original UCC filing due to errors or changes in circumstances. 3. Addition or removal of secured parties: If there is a need to add or remove a secured party due to a change in ownership, termination of security interest, or any other relevant circumstance. 4. Adding or revising information related to the debtor: This could include correcting the legal name of the debtor, adding additional trade names, or updating the debtor's contact information. 5. Other correction scenarios: Any other inconsistencies, omissions, or inaccuracies discovered in the original UCC5 filing that require an amendment or correction. By filing the Harris Texas UCC5 National Correction Statement, individuals can ensure that their UCC records effectively reflect the accurate details of their secured transactions, maintain legal compliance, and minimize any potential conflicts or disputes related to the validity or priority of secured claims. Keywords: Harris Texas, UCC5 National Correction Statement, UCC5 records, Harris County Clerk's Office, correction statement, Uniform Commercial Code Section 5, amendment, correction, legal document, rectify errors, commercial transactions, integrity, transparency, typographical errors, clerical errors, collateral information, secured parties, debtor, legal name, trade names, filing, accuracy, validity, priority rights.

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FAQ

The secured party has 20 days to either terminate the filing or send a termination statement to the debtor that the debtor can then file. If this does not happen within the 20-day time frame, the debtor may file a UCC-3 termination statement.

Although Article 9 was intended to make this process uniform, UCC filing rules can vary in each state. Pay attention to detail in debtor name requirements.Decide where to file UCC financing statements by location of the debtor.Allow ample filing time depending on jurisdiction.Ensure all relevant records are uncovered.

Although Article 9 was intended to make this process uniform, UCC filing rules can vary in each state. Pay attention to detail in debtor name requirements.Decide where to file UCC financing statements by location of the debtor.Allow ample filing time depending on jurisdiction.Ensure all relevant records are uncovered.

Ask the lender to terminate the lien upon payoff. When you pay off a loan, a good rule of thumb is to immediately submit a request with the lender to file a UCC-3 form with your secretary of state. The UCC-3 will terminate the lien on your company's asset (or assets) and remove the UCC-1 filing.

Ask the lender to terminate the lien upon payoff. When you pay off a loan, a good rule of thumb is to immediately submit a request with the lender to file a UCC-3 form with your secretary of state. The UCC-3 will terminate the lien on your company's asset (or assets) and remove the UCC-1 filing.

If you need to remove a UCC filing form your credit report, ask the lender to file for its removal. In order to do this, they need to file a UCC-3 Financing Statement Amendment. You can also just wait it out. Depending on how long you have been with the lender, the filing may be removed within a few months.

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.

Initial Filing Note: Online filing and searching available through SOSDirect. For information or to subscribe, call (512) 475-2703. Form to be used for an initial filing. Form may only be used in conjunction with the UCC1 Form (see instructions on forms).

How to complete a UCC1 (Step by Step) Filer Information. Name and phone number of contact at filer. Email contact at filer.Debtor Information. Organization or individual's name. Mailing address. Secured Party Information. Organization or individual's name. Mailing address. Collateral Information. Description of collateral.

All other types of amendment filings would require the filing of a financing statement in the Office of the Secretary of State. Documents pertaining to real estate records are to be filed in the Office of the County Clerk. Please obtain legal advice prior to filing documents in the Office of the County Clerk.

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In the definition of "registered organization" itself. Llewellyn was responsible for the creation of the UCC.

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Harris Texas UCC5 National Correction Statement