Ucc 3 Termination Form Nj Without Notary

State:
New Jersey
Control #:
NJ-UCC3
Format:
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PDF; 
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Description

The UCC 3 Termination Form NJ Without Notary is designed to facilitate the termination of a financing statement filed under the Uniform Commercial Code. This form is particularly relevant for parties involved in secured transactions who wish to officially discontinue the effectiveness of a previously recorded financing statement regarding security interests. Key features of this form include the ability to indicate the initial financing statement file number, the option to send an acknowledgment to a specified address, and multiple checkboxes for different amendment purposes such as termination, continuation, assignment, and alterations to party information. Users should fill out the form meticulously, ensuring legibility and accuracy to avoid any legal complications, and they are advised to consult legal counsel if necessary. This form can be used by attorneys, partners, owners, associates, paralegals, and legal assistants to manage secured transactions and protect clients' interests by formally concluding their security interests. A thorough understanding of the filling instructions is essential, especially regarding the proper disclosure of debtor and secured party information, to maintain compliance with applicable law.

How to fill out New Jersey UCC3 Financing Statement Amendment?

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FAQ

To add, edit or delete a debtor, secured party and/or collateral, you can file an Amendment online. Go to the UCC Home Page at .njportal.com/UCC and select the link "Amendment (UCC-3)". Enter the filing number to pull up the information and then you can make a change to the debtor, secured party and/or collateral.

1. Ask the lender to terminate the lien upon payoff. When you pay off a loan, a good rule of thumb is to immediately submit a request with the lender to file a UCC-3 form with your secretary of state. The UCC-3 will terminate the lien on your company's asset (or assets) and remove the UCC-1 filing.

The Debtor must send an authenticated demand to the secured party. the demand must be sent to the name and address of the secured party found on the financing statement. the secured party has 20 days to either terminate the filing or send a termination statement to the debtor for the debtor to file.

Ask the lender to terminate the lien upon payoff. A good rule of thumb is to request that your lender file a UCC-3 form with your secretary of state as soon as possible after you pay off your loan. The UCC-3 will terminate the lien on your company's assets (or assets) and remove the UCC-1 filing.

UCC filings in New Jersey go through the New Jersey Department of the Treasury's Division of Revenue and Enterprise Services. UCC-1 financing statements are submitted to secure debt, and then form UCC-3 is used for amendments to a UCC-secured financing agreement.

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Ucc 3 Termination Form Nj Without Notary