Colorado Ucc Lien Search With Secretary Of State

State:
Colorado
Control #:
CO-UCC1
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Description

UCC1 - Financing Statement - Colorado - For use after July 1, 2001. This form is a financing statement used to cover certain collateral as specified in the form. This Financing Statement complies will all applicable state laws.

How to fill out Colorado UCC1 Financing Statement?

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FAQ

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.

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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. However, in many cases, the terms UCC lien and UCC filing are used interchangeably.

Ask the lender to terminate the lien upon payoff. It is important to note that removing the UCC filing from your business credit report may or may not occur. It will not remove a closed UCC filing unless it receives a request from a customer or the lien has been inactive for 11 years. You should always verify.

In addition to filing with the state, the UCC is filed with the County office that holds the county real estate records for the property. Filings for ownership entities are made in the state where the entity is registered. Filings for individuals are made in the state in which the individual resides.

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Colorado Ucc Lien Search With Secretary Of State