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A UCC-1 financing statement (an abbreviation for Uniform Commercial Code-1) is a United States legal form that a creditor files to give notice that it has or may have an interest in the personal property of a debtor (a person who owes a debt to the creditor as typically specified in the agreement creating the debt).
The UCC-1 statement of financing; The conditions, covenants, and restrictions of an association for assessments collection; Foreclosing under the provision of the power of sale allows the lien holder on the real estate to avoid the costly court actions for the judicial foreclosure should the owner default in a trust deed [2]
The official 2007 edition of the UCC. The Uniform Commercial Code (UCC), first published in 1952, is one of a number of uniform acts that have been established as law with the goal of harmonizing the laws of sales and other commercial transactions across the United States through UCC adoption by all 50 states, the District of Columbia, and the Territories of the United States.
The most common method of perfection is through filing a financing statement (often referred to by its form number: UCC-1) in the appropriate state office (usually the office of the Secretary of State) in the U.S. state in which the debtor is located. See U.C.C. §§ 9-301, 9-310.
[1] [24] Supposed procedures for using the nonexistent "strawman" funds include: Filing a UCC-1 financing statement or UCC-3 amended statement against the strawman [27] Passing a birth certificate or other official document as if it were a bond [28] Submitting documents to the Secretary of the Treasury [27] Asserting copyright on a name [29]
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UCC-1 financing statement; Uniform Commercial Code adoption This page was last edited on 30 August 2018, at 14:19 (UTC). Text is available under the Creative Commons ...
The security agreement sets out the various rights the grantee will have with respect to the collateral, which are in addition to all other rights which the lender may have by law, such as those rights contained in Article 9 of the Uniform Commercial Code which has been adopted in some form by each state in the United States. The Security ...