Ucc financing statement form ucc3ap iaca 2025

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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.
In fact, it is sometimes called a UCC financing statement. A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtors personal property. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.
The UCC-1 form is used to establish a creditors claim on personal property as collateral. By filing this form, creditors notify the public and other potential creditors of their interest in specific assets. It creates a public record that determines the priority of competing claims.
The debtor must contact the secured party to request that a UCC-3 amendment be filed to terminate the original financing statement.
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