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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.
UCC - Frequently Asked Questions - UCC-1 and UCC-3. Most filings last for five (5) years from the date of filing. Filings for a debtor that is a transmitting utility have no expiration date. Manufactured Home filings last 30 years from the date of filing appropriate box must be marked.
A UCC (Uniform Commercial Code) financing statement is a mortgage or security agreement that uses personal property as collateral. These agreements are recorded in the county if real property is affected.
Visit your secretary of states office. To do so you will generally need to make a trip in person down to your secretary of states office. Once there, you will be able to swear under oath that youve satisfied the debt in full and wish to request for the UCC-1 filing to be removed.
A UCC1 financing statement is effective for a period of five years. A record that is not continued before its lapse date will cease to be effective, costing the secured party their perfected status and perhaps their priority position to collect. Once a financing statement has lapsed, it cannot be revived.
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A UCC-1 financing statement will automatically expire five years after the date of its filing [2].
How long does a financing statement last? If a continuation is not filed, the financing statement will lapse 5 years from the original filing date. A continuation extends the filing period 5 additional years from the initial filing date.
How long does a financing statement last? If a continuation is not filed, the financing statement will lapse 5 years from the original filing date. A continuation extends the filing period 5 additional years from the initial filing date.
The UCC-1 Financing Statement is filed to protect a lenders or creditors security interest by giving public notice that there is a right to take possession of and sell certain assets for repayment of a specific debt with a certain debtor.
In addition to filing with the state, the UCC is filed with the County office that holds the county real estate records for the property. Filings for ownership entities are made in the state where the entity is registered. Filings for individuals are made in the state in which the individual resides.

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