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The first step to removing a UCC lien is to pay off the loan. Lenders are required to release the collateral from a loan when it has been satisfied. When the loan has been satisfied, the lender will file a UCC-3 financing statement amendment which removes the UCC lien.
Lenders file UCC-1 documents with the secretary of state when they provide a secured loan for a customer. When a lender files a UCC-1 statement, they announce their right to collateral or liens to secure a loan. This filing process is also called \u201cperfecting\u201d the lender's security interest in the collateral.
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 debtor's personal property. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.
A UCC-1 financing statement will automatically expire five years after the date of its filing [2].
All states except New York and South Carolina adopted the 1990 version of this Article.
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(a) [Five-year effectiveness.] 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. (b) [Public-finance or manufactured-home transaction.]
How long does a UCC filing last? A UCC-1 filing is good for five years. After five years, it is considered lapsed and no longer valid. Should your debtor remain in debt to you and encounter financial difficulty or file for bankruptcy, you have no secured interest if your UCC-1 filing has lapsed.
\u201cUCC\u201d means the Uniform Commercial Code as adopted in this State of Oklahoma, County of Oklahoma.
In cases where the collateral is tied to a specific physical property rather than financial assets, the UCC-1 is filed in the county where the physical property is located. The UCC-1 lien becomes a public record, allowing potential creditors to see whether a given property is already pledged against an existing lien.
UCC - Frequently Asked Questions - UCC-1 and UCC-3. Most filings last for five (5) years from the date of filing. Filings for a debtor that is a transmitting utility have no expiration date.

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