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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 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.
Article 9 of the Uniform Commercial Code (UCC), as adopted by all fifty states, generally governs secured transactions where security interests are taken in personal property. [1] 1 It regulates creation and enforcement of security interests in movable property, intangible property, and fixtures.
UCC Insurance generally insures the attachment, perfection and priority of security interests in personal property. UCC Insurance is utilized for transactions described in Article 9, "Secured Transactions", of the Uniform Commercial Code,"UCC". All of the larger land-title insurance companies now offer various versions of UCC insurance.
The following table identifies which articles in the UCC each U.S. jurisdiction has currently adopted. However, it does not make any distinctions for the various official revisions to the UCC, the selection of official alternative language offered in the UCC, or unofficial changes made to the UCC by some jurisdictions.
In this type of system, if Oscar purports to sell a piece of land to Alice for $100,000, and the next day purports to sell exactly the same piece of land to Bob for another $100,000, then Bob will own the land only if he was not aware of the prior sale to Alice, and if Bob actually records his interest before Alice does. In the hybrid race ...
State lawmakers have passed a bill that could improve Tennessee’s gun background check process through a universal court filing system. The push comes as the Tennessee Bureau of Investigation ...
Interpleader is a civil procedure device that allows a plaintiff or a defendant to initiate a lawsuit in order to compel two or more other parties to litigate a dispute. An interpleader action originates when the plaintiff holds property on behalf of another, but does not know to whom the property should be transferred.