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Except as otherwise provided in subsections (b), (e), (f), and (g), a filed financing statement is effective for a period of five years after the date of filing.
A UCC financing statement \u2014 also called a UCC-1 financing statement or a UCC-1 filing \u2014 is a legal form that allows a lender to announce a lien on an asset to secure a loan. By filing the UCC financing statement, the lender is giving notice that it has an interest in the property listed in the filing.
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. Note: The Registrar-Recorder/County Clerk sells complete documents, not individual pages, of a document.
UCC Financing Statement (usually called a UCC-1 Form) is a form that creditors file with states in which they have a security interest in a debtor's personal property.
A financing statement must be filed in order to perfect a security interest in fixtures. Lenders often file UCC-1 Financing Statements (for personal property) in addition to the mortgage securing the financing of the real property.

People also ask

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 filings are financial statements that are filed to give notice to other creditors of your security interest in a lien.
Overview of UCC-3 Terminations A Termination for personal property is accomplished by completing and filing form UCC-3 with the Secretary of State's office in the appropriate state.
To do so you will generally need to make a trip in person down to your secretary of state's office. Once there, you will be able to swear under oath that you've satisfied the debt in full and wish to request for the UCC-1 filing to be removed.
If a record of mortgage satisfies the requirements of Section 9\u2010502(c), then it is effective as a financing statement filed as a fixture filing.

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