UCC1 - Financing Statement - Utah - For use after July 1, 2001. This form is a financing statement used to cover certain collateral as specified in the form. This Financing Statement complies will all applicable state laws.
West Jordan Utah UCC1 Financing Statement is a legal document filed to secure a creditor's interest in personal property. It is governed by Utah's Uniform Commercial Code (UCC) and serves as a public record to establish priority in case of disputes or bankruptcy proceedings. This statement provides important information about the debtor, secured party, and the collateral involved. The primary purpose of a West Jordan Utah UCC1 Financing Statement is to offer protection to lenders or creditors who provide loans or extend credit to individuals or businesses. By filing this statement with the Utah Secretary of State's office, the creditor establishes a legal claim against specific assets pledged as collateral, ensuring the debt will be repaid. Keywords: West Jordan Utah, UCC1 Financing Statement, Utah UCC, legal document, creditor's interest, personal property, Utah Secretary of State, uniform commercial code, priority, bankruptcy proceedings, protected lenders, collateral, debtor, secured party. Different types of West Jordan Utah UCC1 Financing Statements can include: 1. Individual Debtor Statement: This type of financing statement is filed when a single individual is the debtor, usually in cases of personal loans or consumer transactions. It contains information such as the debtor's name, address, and Social Security number. 2. Organization Debtor Statement: Filed when the debtor is an organization, such as a company, partnership, or association. It requires details such as the organization's legal name, address, and Employer Identification Number (EIN). 3. Fixture Filing: This type of financing statement is unique as it applies to property that becomes a fixture — an item physically attached to real estate — after a security interest has been created. It involves specific details about both the real property and the fixture itself. 4. Amended UCC1 Financing Statement: If there are changes to the original financing statement, an amended UCC1 must be filed to keep the public record up to date. This type of statement is used to modify or correct information previously filed, ensuring accuracy. 5. Continuation Statement: A financing statement generally lasts for a limited period, with a typical duration of five years. However, a continuation statement can be filed before the initial statement expires to extend the creditor's security interest for an additional term. Keywords: individual debtor statement, organization debtor statement, fixture filing, amended UCC1 financing statement, continuation statement, debtor's name, debtor's address, Social Security number, legal name, organization's address, EIN, real property, security interest, amend, correct, expiration period, security interest extension. Overall, West Jordan Utah UCC1 Financing Statements play a vital role in securing creditors' interests and maintaining transparency in financial transactions. It serves as an essential tool for lenders and businesses to protect their investments and ensure the enforcement of debt repayment in the event of default or legal actions.West Jordan Utah UCC1 Financing Statement is a legal document filed to secure a creditor's interest in personal property. It is governed by Utah's Uniform Commercial Code (UCC) and serves as a public record to establish priority in case of disputes or bankruptcy proceedings. This statement provides important information about the debtor, secured party, and the collateral involved. The primary purpose of a West Jordan Utah UCC1 Financing Statement is to offer protection to lenders or creditors who provide loans or extend credit to individuals or businesses. By filing this statement with the Utah Secretary of State's office, the creditor establishes a legal claim against specific assets pledged as collateral, ensuring the debt will be repaid. Keywords: West Jordan Utah, UCC1 Financing Statement, Utah UCC, legal document, creditor's interest, personal property, Utah Secretary of State, uniform commercial code, priority, bankruptcy proceedings, protected lenders, collateral, debtor, secured party. Different types of West Jordan Utah UCC1 Financing Statements can include: 1. Individual Debtor Statement: This type of financing statement is filed when a single individual is the debtor, usually in cases of personal loans or consumer transactions. It contains information such as the debtor's name, address, and Social Security number. 2. Organization Debtor Statement: Filed when the debtor is an organization, such as a company, partnership, or association. It requires details such as the organization's legal name, address, and Employer Identification Number (EIN). 3. Fixture Filing: This type of financing statement is unique as it applies to property that becomes a fixture — an item physically attached to real estate — after a security interest has been created. It involves specific details about both the real property and the fixture itself. 4. Amended UCC1 Financing Statement: If there are changes to the original financing statement, an amended UCC1 must be filed to keep the public record up to date. This type of statement is used to modify or correct information previously filed, ensuring accuracy. 5. Continuation Statement: A financing statement generally lasts for a limited period, with a typical duration of five years. However, a continuation statement can be filed before the initial statement expires to extend the creditor's security interest for an additional term. Keywords: individual debtor statement, organization debtor statement, fixture filing, amended UCC1 financing statement, continuation statement, debtor's name, debtor's address, Social Security number, legal name, organization's address, EIN, real property, security interest, amend, correct, expiration period, security interest extension. Overall, West Jordan Utah UCC1 Financing Statements play a vital role in securing creditors' interests and maintaining transparency in financial transactions. It serves as an essential tool for lenders and businesses to protect their investments and ensure the enforcement of debt repayment in the event of default or legal actions.
