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Whats the difference between a UCC-1 and UCC3?

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

What is a UCC3 lien?

A UCC-3 is used as a way to amend that original lien filing and do things like terminate the UCC, edit any of the details of the lien, or assign your interests to another secured party for the lien.

What is a UCC3 form used for?

Form UCC3 is used to amend (make changes to) a UCC1 filing. The required information is: An acknowledgement name and address. (Recommended for return copy of the filing.)

Who files a UCC3?

A UCC-3 termination statement (a Termination) is a required filing that terminates a security interest that has been perfected by a UCC-1 filing. A Termination for personal property is accomplished by completing and filing form UCC-3 with the Secretary of States office in the appropriate state.

What is a UCC3 continuation?

Also known as a continuation statement. The amendment used to extend the effectiveness of a UCC-1 beyond the date which is five years after the date of its filing. The continuation statement should identify the initial UCC-1 to which it relates (UCC 9-102(a)(27)).

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