This form is a UCC financing statement amendment for use in recording security interests in personal property. Use to amend an existing recorded lien.
Title: Tacoma, Washington UCC3 Financing Statement Amendment: A Comprehensive Overview and Types Introduction: In Tacoma, Washington, the UCC3 Financing Statement Amendment plays a critical role in the realm of commercial transactions. This detailed description sheds light on the purpose, process, and various types of UCC3 Financing Statement Amendments applicable in Tacoma, Washington. 1. Understanding UCC3 Financing Statement Amendment: The UCC3 Financing Statement Amendment refers to a legal document utilized to modify, clarify, or update the information contained in an existing UCC3 Financing Statement. It helps secure and maintain the priority of security interests in collateral related to commercial transactions, ensuring transparency and legal compliance. 2. Purpose of UCC3 Financing Statement Amendment: The primary objective of a UCC3 Financing Statement Amendment is to provide an accurate and up-to-date representation of the debtor-creditor relationship. It enables creditors to protect their interests by reflecting any changes regarding collateral, debtor's name, secured party, or other crucial details. 3. Types of UCC3 Financing Statement Amendments: a. Collateral Addition/Deletion Amendment: This type of amendment is required when excluding or adding specific collateral to an existing UCC3 Financing Statement. Creditors or debtors may modify the statement to reflect changes in the secured assets, ensuring accurate information about the collateral covered. b. Name Change/Correction Amendment: When a debtor changes their name or discovers a mistake in the name listed on the UCC3 Financing Statement, a name change or correction amendment is necessary. This amendment ensures accurate identification of the debtor and enhances the validity of the financing statement. c. Secured Party Change Amendment: In the event of a change in the secured party, such as an assignment or transfer of the secured interest to another party, a secured party change amendment is needed. This amendment safeguards the rights of both the original and new secured parties while reflecting the updated information. d. Termination Statement Amendment: Terminating a UCC3 Financing Statement requires an amendment when changes occur after the original termination. It ensures that the termination statement accurately depicts the status and prevents any confusion regarding the validity or continuation of the debtor-creditor relationship. 4. Process of Filing a UCC3 Financing Statement Amendment in Tacoma, Washington: To file a UCC3 Financing Statement Amendment in Tacoma, Washington, one must follow these steps: a. Prepare the Amendment: Include the necessary changes to the existing UCC3 Financing Statement, ensuring accuracy in all details. b. Complete the UCC3 Financing Statement Amendment Form: Fill out the official form provided by the Washington Secretary of State, including the debtor's information, secured party details, and the nature of amendments. c. File the Amendment: Submit the completed form, along with the appropriate fees, to the Washington Secretary of State's office via mail or in person. Online filing methods may also be available. d. Verification and Updates: After filing, the Washington Secretary of State's office will review the UCC3 Financing Statement Amendment for completeness and accuracy. Upon successful verification, the amendment will be recorded, and the UCC3 Financing Statement will reflect the changes made. Conclusion: A Tacoma, Washington UCC3 Financing Statement Amendment is a crucial legal tool used to modify, correct, or update existing UCC3 Financing Statements. By incorporating relevant keywords like Tacoma, Washington, UCC3 Financing Statement, Amendment, collateral, debtor, secured party, name change, and termination, this description provides valuable insights into the process, purpose, and types associated with UCC3 Financing Statement Amendments.Title: Tacoma, Washington UCC3 Financing Statement Amendment: A Comprehensive Overview and Types Introduction: In Tacoma, Washington, the UCC3 Financing Statement Amendment plays a critical role in the realm of commercial transactions. This detailed description sheds light on the purpose, process, and various types of UCC3 Financing Statement Amendments applicable in Tacoma, Washington. 1. Understanding UCC3 Financing Statement Amendment: The UCC3 Financing Statement Amendment refers to a legal document utilized to modify, clarify, or update the information contained in an existing UCC3 Financing Statement. It helps secure and maintain the priority of security interests in collateral related to commercial transactions, ensuring transparency and legal compliance. 2. Purpose of UCC3 Financing Statement Amendment: The primary objective of a UCC3 Financing Statement Amendment is to provide an accurate and up-to-date representation of the debtor-creditor relationship. It enables creditors to protect their interests by reflecting any changes regarding collateral, debtor's name, secured party, or other crucial details. 3. Types of UCC3 Financing Statement Amendments: a. Collateral Addition/Deletion Amendment: This type of amendment is required when excluding or adding specific collateral to an existing UCC3 Financing Statement. Creditors or debtors may modify the statement to reflect changes in the secured assets, ensuring accurate information about the collateral covered. b. Name Change/Correction Amendment: When a debtor changes their name or discovers a mistake in the name listed on the UCC3 Financing Statement, a name change or correction amendment is necessary. This amendment ensures accurate identification of the debtor and enhances the validity of the financing statement. c. Secured Party Change Amendment: In the event of a change in the secured party, such as an assignment or transfer of the secured interest to another party, a secured party change amendment is needed. This amendment safeguards the rights of both the original and new secured parties while reflecting the updated information. d. Termination Statement Amendment: Terminating a UCC3 Financing Statement requires an amendment when changes occur after the original termination. It ensures that the termination statement accurately depicts the status and prevents any confusion regarding the validity or continuation of the debtor-creditor relationship. 4. Process of Filing a UCC3 Financing Statement Amendment in Tacoma, Washington: To file a UCC3 Financing Statement Amendment in Tacoma, Washington, one must follow these steps: a. Prepare the Amendment: Include the necessary changes to the existing UCC3 Financing Statement, ensuring accuracy in all details. b. Complete the UCC3 Financing Statement Amendment Form: Fill out the official form provided by the Washington Secretary of State, including the debtor's information, secured party details, and the nature of amendments. c. File the Amendment: Submit the completed form, along with the appropriate fees, to the Washington Secretary of State's office via mail or in person. Online filing methods may also be available. d. Verification and Updates: After filing, the Washington Secretary of State's office will review the UCC3 Financing Statement Amendment for completeness and accuracy. Upon successful verification, the amendment will be recorded, and the UCC3 Financing Statement will reflect the changes made. Conclusion: A Tacoma, Washington UCC3 Financing Statement Amendment is a crucial legal tool used to modify, correct, or update existing UCC3 Financing Statements. By incorporating relevant keywords like Tacoma, Washington, UCC3 Financing Statement, Amendment, collateral, debtor, secured party, name change, and termination, this description provides valuable insights into the process, purpose, and types associated with UCC3 Financing Statement Amendments.
