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notice of judgment lien california secretary of state Preview on Page 1

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Legal requirements for the UCC-1 In order for a UCC-1 to hold weight in a legal proceeding, it must include the exact legal name of the debtor, the collateral included in the lien and the name of the secured party. When listing collateral, the law doesnt require a detailed description.
Notice of Judgment Lien (JL 1)
Filing with the Secretary of State serves to perfect a security interest in named collateral and establish priority in case of debtor default or bankruptcy. Generally, the active duration for a financing statement is five (5) years, at which time it lapses unless it is continued.
A Uniform Commercial Code filing, also known as a UCC filing or UCC-1 financing statement, is a document that lenders use to establish their legal right to assets that a borrower uses to secure a loan. This notice allows the lender to seize the borrowers collateral in the case of default.
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