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Maine UCC1 Financing Statement Additional Party

Maine UCC1 Financing Statement Additional Party

Name: Maine UCC1 Financing Statement Additional Party
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.6 (317 reviews)

Category:

Maine Contracts - Statewide - Uniform Commercial Code

State:

Maine

Control #:

ME-UCC1-AP

Format:

Instant download

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Description

Financing Statement Additional Party form for adding additional Debtors or Secured Parties to Financing Statements (Form UCC1) filed with the Maine filing office.

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FAQ

The secured party has 20 days to either terminate the filing or send a termination statement to the debtor that the debtor can then file. If this does not happen within the 20-day time frame, the debtor may file a UCC-3 termination statement.

It should be noted that UCC financing statements filed now generally do not contain a grant of the security interest and generally are not signed or otherwise authenticated by the Debtor and therefore would not satisfy the requirement of a security agreement.

Section 9-503 of the UCC provides various, more specific rules regarding the sufficiency of a debtor's name on a financing statement.However, unlike with a security agreement, on a financing statement it is acceptable to use a supergeneric description of collateral.

Rules vary by State around releasing a UCC lien after a borrower satisfied the debt. Primarily there are two main ways to remove them. One way is by having the lender file a UCC-3 Financing Statement Amendment. Another way to remove a UCC filing is by swearing an oath of full payment at the secretary of state office.

Filer Information. Name and phone number of contact at filer. Email contact at filer. Debtor Information. Organization or individual's name. Mailing address. Secured Party Information. Organization or individual's name. Mailing address. Collateral Information. Description of collateral.

A UCC-1 financing statement (an abbreviation for Uniform Commercial Code-1) is a 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).

UCC-1 Financing Statements do not have to be signed by either the Debtor or Secured Party; however, they must be authorized.Although the UCC-1 Financing Statement does not require signatures, any attachment such as the legal description or special terms and conditions may require the signature of the Debtor.

Maine UCC1 Financing Statement Additional Party

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FAQ

Who can terminate a UCC financing statement?

Can you file a UCC 1 without a security agreement?

Is a UCC financing statement a security agreement?

How do I terminate a UCC financing statement?

How do I fill out a UCC1 financial statement?

What is a UCC Financing Statement amendment?

Does a UCC financing statement need to be signed?

How do I fill out a UCC financing statement?

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