UCC1 - Financing Statement - Wisconsin - 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.
Green Bay Wisconsin UCC1 Financing Statement is a legal document filed by a creditor to secure their interest in the assets of a debtor as collateral for a loan or transaction. This financing statement is governed by the Uniform Commercial Code (UCC) and plays a crucial role in providing transparency and protecting the rights of secured parties in Green Bay, Wisconsin. The UCC1 Financing Statement in Green Bay, Wisconsin provides a comprehensive and detailed record of the secured transaction, including the names and addresses of both the debtor (borrower) and the secured party (creditor), a description of the collateral used to secure the debt, and any other pertinent details specified by the UCC. Keywords: Green Bay, Wisconsin, UCC1 Financing Statement, legal document, creditor, debtor, collateral, loan, transaction, Uniform Commercial Code, transparency, secured parties. Types of Green Bay Wisconsin UCC1 Financing Statements: 1. UCC1 Financing Statement Amendment: This type of financing statement is filed when there are changes or updates to be made to the original UCC1 statement. It amends the previously filed statement to reflect any modifications in the debtor's details, the collateral description, or the secured party's information. 2. UCC1 Financing Statement Continuation: This financing statement is utilized to extend the effective period of an existing UCC1 statement. By filing a continuation statement before the original statement expires, the secured party retains their priority position in case of competing claims against the collateral. 3. UCC1 Financing Statement Termination: When a debt is fully paid off or the secured party no longer has a valid interest in the collateral, they file a termination statement. This document removes the UCC1 filing from public records, signaling the release of the debtor's assets from the creditor's claim. 4. UCC1 Financing Statement Assignment: In certain cases, secured parties may transfer their interest in a UCC1 financing statement to another party. An assignment statement is filed to officially record this transfer of rights and inform parties interested in the collateral about the change in the secured party. 5. UCC1 Financing Statement Release: If the debtor fulfills their obligations or the secured party agrees to release their claim, a release statement is filed. This statement terminates the secured party's interest in the collateral, allowing the debtor to freely use and transfer their assets without any encumbrances. Keywords: UCC1 Financing Statement Amendment, UCC1 Financing Statement Continuation, UCC1 Financing Statement Termination, UCC1 Financing Statement Assignment, UCC1 Financing Statement Release, Green Bay, Wisconsin.
