Ny ucc pdf complete form 2025

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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.
Lets say a borrower puts up his house as collateral. A UCC filing could state that the borrowers home is foreclosed on in the event of a default or bankruptcy. It could also state that the house is seized or just sold off. UCC filings are active for five years.
Documents are filed by accessing the appropriate form template (the Electronic UCC Financing Statement or the Electronic UCC Financing Statement Amendment) on the Department of States web page, entering the appropriate information in the form template, clicking the File button on the form, and then submitting
Steps Download the UCC-1 form. Provide direct contact information if desired. Fill in the debtors name and mailing address. List the name and address of the secured party. Indicate the collateral covered by the financing statement. Include applicable descriptions of the transaction. Fill out an addendum if necessary.
Enter your information into your secretary of states online database if you know what state the loan was filed in. Search the county clerks records if the business loan was secured with real property. Request certified copies of UCC filings by submitting a UCC-11 form to the secretary of states office.
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What Are the Benefits of Filing a Uniform Commercial Code-1 (UCC-1) Statement? Filing a UCC-1 allows creditors to collateralize their loans by utilizing the personal property assets of their customers.
UCC search and filing checklist Ask for all names and addresses used in the past seven years. Look for former names, aliases, nicknames, and DBAs. Search past tax returns and credit reports, as well as pending litigation. Get drivers licenses for all individuals. Find locations of old offices, or property owned or leased.

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