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  • Ucc Financing Statement Addendum (ucc1ad) - State Of Michigan - Mich

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UCC FINANCING STATEMENT ADDENDUM FOLLOW INSTRUCTIONS 9. NAME OF FIRST DEBTOR: Same as line 1a or 1b on Financing Statement; if line 1b was left blank because Individual Debtor name did not fit, check.

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A UCC-Uniform Commercial Code-1 statement is a legal notice filed by creditors in an effort to publicly declare their right to seize assets of debtors who default on loans. UCC-1 notices are typically printed in local newspapers, in an effort to publicly express a lender's intent to seize collateralized assets.

A financing statement amendment is a UCC document that amends the information in a financing statement.

A UCC-1 financing statement also sometimes referred to as a 'UCC-1 filing,' a 'UCC lien,' or simply a 'UCC-1' is a form that creditors use to create a lien against a debtor's property.

In the case of a loan secured by personal property collateral, the filing of a financing statement gives notice of a lien against the property so that other lenders or buyers of the personal property will know of the security interest.

In addition to creating a public notice of a lien, the financing statement is also used to perfect a security interest or to show priority over third-party creditors. It is a legal document and public record.

A UCC1 financing statement is effective for a period of five years. A record that is not continued before its lapse date will cease to be effective, costing the secured party their perfected status and perhaps their priority position to collect. Once a financing statement has lapsed, it cannot be revived.

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.

The UCC-1 Financing Statement is filed to protect a lender's or creditor's security interest by giving public notice that there is a right to take possession of and sell certain assets for repayment of a specific debt with a certain debtor.

The financing statement is generally filed with the office of the state secretary of state, in the state where the debtor is located - for an individual, the state where the debtor resides, for most kinds of business organizations the state of incorporation or organization.

A UCC 3 Termination is a form used to end a lender's interest in the collateral mortgage. It also indicates that the loan was paid in full.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232