How do I fill out a UCC-1?

How to complete a UCC1 (Step by Step)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.

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Agreements - Agreement Forms
Texas
Texas Deed of Trust and Security Agreement

Texas Security Agreement

Category:

Real Estate - Mortgages and Deeds of Trust

State:

Texas

Control #:

TX-1011

Format:

Instant download

Description

The Texas security agreement is a legal document designed to secure a promissory note through a Deed of Trust, where a Grantor conveys property as collateral for repayment to a Beneficiary. Key features include the specification of secured indebtedness, ownership of property assurances, and maintenance obligations of the Grantor. The form requires sections for detailing the property involved and any future interests, while carefully outlining the rights of the Beneficiary in the event of a default. Instructions for filling out and editing the agreement emphasize clarity and thoroughness, such as detailing property descriptions and ensuring proper signatures are included. It is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants engaged in real estate transactions or financing, facilitating the process of securing loans through the use of property. By ensuring compliance with Texas laws and regulations, the form supports both the Grantor’s and Beneficiary’s interests in real estate matters. This tool allows legal professionals to effectively manage loans secured by real estate, thereby enhancing their practice and serving client needs.

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How to fill out Texas Deed Of Trust And Security Agreement?

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FAQ

What is required to be mentioned in a Security Agreement?The details of the parties.The original principal amount.The description of the asset or property is provided as a collateral.The rights of the secured party.More items...

How to complete a UCC1 (Step by Step)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.

At a minimum, a valid security agreement consists of a description of the collateral, a statement of the intention of providing security interest, and signatures from all parties involved.

Initial Filing Note: Online filing and searching available through SOSDirect. For information or to subscribe, call (512) 475-2703. Form to be used for an initial filing. Form may only be used in conjunction with the UCC1 Form (see instructions on forms).

Article 9 contains a statute of frauds which requires a security agreement to be in writing unless it is pledged. See § 9-203(1) of the code. A pledged security agreement arises when the borrower transfers the collateral to the lender in exchange for a loan (e.g., a pawnbroker).