What is a UCC financing statement used for?

In fact, it is sometimes called a UCC financing statement. A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtor's personal property. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.

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Washington UCC5 Correction Statement

Tacoma Washington UCC5 Correction Statement

Name: Tacoma Washington UCC5 Correction Statement
Brand: US Legal Forms
Rating: 4.6 (308 reviews)

Category:

Washington Contracts - Uniform Commercial Code

State:

Washington

City:

Tacoma

Control #:

WA-UCC5

Format:

Instant download

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Public form

Description

Correction Statement used to report inaccurate or wrongly filed records (as designated in the form) on file with the Washington filing office.

Tacoma, Washington UCC5 Correction Statement is an important legal document that serves to rectify or update errors or inaccurate information in a previously filed UCC-1 financing statement or UCC-3 amendment. This correction statement is vital for ensuring accurate public records of secured transactions in Tacoma, Washington. The UCC5 Correction Statement in Tacoma is used when there are mistakes, such as typographical errors, wrong debtor or secured party information, or improper collateral description, in a UCC filing. By filing this correction statement, individuals or businesses can rectify these mistakes and ensure that the UCC records accurately reflect their interests. Keywords: Tacoma, Washington, UCC5 Correction Statement, legal document, rectify, update, errors, inaccurate information, UCC-1 financing statement, UCC-3 amendment, correction statement, public records, secured transactions, typographical errors, debtor, secured party information, collateral description, UCC filing, accurate, interests. Types of Tacoma Washington UCC5 Correction Statements: 1. UCC5 Partial Correction Statement: This type of correction statement is used when only certain aspects of the original filing contain errors or need clarification. It is filed to correct specific inaccuracies without altering the entire UCC filing. 2. UCC5 Full Correction Statement: A full correction statement is filed when the entire original UCC filing contains errors or requires modification. This statement provides a complete and accurate replacement for the original filing, ensuring that all errors are rectified. 3. UCC5 Amendment Correction Statement: An amendment correction statement is filed when there is a need to correct errors or update information in a previously filed UCC-3 amendment. This statement ensures that the UCC-3 amendment accurately reflects the intended changes. It is crucial for individuals or businesses to carefully review their UCC filings and promptly file the appropriate Tacoma Washington UCC5 Correction Statement to rectify any errors or inaccuracies. By doing so, they can maintain accurate public records, protect their interests, and avoid any potential legal complications.

How to fill out Tacoma Washington UCC5 Correction Statement?

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FAQ

To do so you will generally need to make a trip in person down to your secretary of state's office. Once there, you will be able to swear under oath that you've satisfied the debt in full and wish to request for the UCC-1 filing to be removed.

In fact, it is sometimes called a UCC financing statement. A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtor's personal property. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.

The financing statement is generally filed with the office of the state secretary of state, in the state where the debtor is located - for an individual, the state where the debtor resides, for most kinds of business organizations the state of incorporation or organization.

What information is required for a UCC-3 filing? Form UCC3 is used to amend (make changes to) a UCC1 filing. The required information is: An acknowledgement name and address.

A UCC3 is a change statement to a UCC1. It's an amendment filing to an original UCC1 financing statement that changes or adds information to the originally filed UCC1. It's a filing tool secured parties use to manage their UCC portfolio to maintain their perfected security interests.

How do I get rid of a UCC filing? You can remove a UCC filing when you've repaid your business loan in full. Once you repay the debt, the lender should remove the lien from your business assets. If not, you may request that the lender files a UCC-3 to terminate the lien.

A uniform commercial code (UCC) filing is a notice registered by a lender when a loan is taken out against a single asset or a group of assets. A UCC filing creates a lien against the collateral a borrower pledges for a business loan. The uniform commercial code is a set of rules governing commercial transactions.

Mailing address: PO Box 9660 ? Olympia, WA 98507-9660. Street address: 405 Black Lake Blvd. ? Olympia, WA 98502. E-Mail: ucc@dol.wa.gov. Fax: (360) 570-7052. Web site: .

3 termination statement (a ?Termination?) is a required filing that terminates a security interest that has been perfected by a UCC1 filing. A Termination for personal property is accomplished by completing and filing form UCC3 with the Secretary of State's office in the appropriate state.

If you ever find yourself in that frustrating situation, the answer is: Yes, you can ? providing there is no existing obligation to the lender. This is provided for in Section 9-513 of the Uniform Commercial Code.

Tacoma Washington UCC5 Correction Statement

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How do I correct a UCC filing?

What is a UCC financing statement used for?

Where should financing statements be filed?

Can you amend a UCC filing?

What is a UCC amendment?

How do I remove a UCC filing?

What is the difference between a lien and a UCC filing?

Where do I file a UCC financing statement in Washington state?

What is a UCC-3 Termination Statement?

Can a debtor terminate a UCC filing on themselves?

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