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UCC-3 is an amendment or ?continuation statement? that the owner files to renew the UCC-1 for another 5-year period. Unless a continuation statement is filed before the expiration of the UCC-1's 5-year period, the owner must file a new UCC-1.
Form UCC3 is used to amend (make changes to) a UCC1 filing. The required information is: An acknowledgement name and address. (Recommended for return copy of the filing.) The file number of the original financing statement.
Uniform Commercial Code UCC-1, UCC-3, UCC-5FeeUCC-11Pages 1 and 2 together$8.00Search FeePage 3$2.00Document Request (Each Page)Pages 4 and beyond$1.00Certification Fee (Per Document)3rd Debtor and beyond$2.002 more rows
A UCC filing is the official notice lenders use to indicate that they have a security interest in a borrower's assets or property. The UCC filing establishes a lien against the collateral the borrower uses to secure the loan ? giving the lender the right to claim that collateral as repayment in the case of default.
?UCC? stands for Uniform Commercial Code. The Uniform Commercial Code is a uniform law that governs commercial transactions, including sales of goods, secured transactions and negotiable instruments. The Uniform Commercial Code is a comprehensive set of statutes created to provide consistency among the states.
3 is used as a way to amend that original lien filing and do things like terminate the UCC, edit any of the details of the lien, or assign your interests to another secured party for the lien.