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How do you file an UCC3?

Forms can be filled out online, printed and mailed to P.O. Box 942835, Sacramento, California, 94235 or delivered in person to 1500 11th Street, 2nd floor, Sacramento, California, 95814.

Whats the difference between a UCC-1 and UCC3?

There are two main forms: UCC-1 is completed upon the purchase or refinance of a property at closing and remains valid for 5 years from the date of filing. UCC-3 is an amendment or continuation statement that the owner files to renew the UCC-1 for another 5-year period.

Who files the UCC-3 termination?

The secured party has 20 days to either terminate the filing or send a termination statement to the debtor that the debtor can then file. If this does not happen within the 20-day time frame, the debtor may file a UCC-3 termination statement.

What is a UCC filing CT?

The Uniform Commercial Code (UCC) is a set of regulations adopted to make commerce from state to state easier. While the code is the same among all states, filing requirements differ. It covers consensual agreements between parties and does not include non-consensual filings like tax liens.

What does article 3 of the UCC do?

Uniform Commercial Code Article 3 governs negotiable instruments: drafts (including checks) and notes representing a promise to pay a sum of money, and that have independent value because they are negotiable.

What is the purpose of a UCC-3?

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 does UCC-3 mean?

A UCC-3 (Uniform Commercial Code-3 statement) is a legal filing used to make any changes to a current UCC-1 filing. In short, a UCC-3 is considered an amendment filing. With Fast Track Filing, you can amend a UCC-1 filing in a few ways: 1. Termination: This filing extinguishes the UCC-1 before its five-year term ends.

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