Forms To Apply For Medicaid
Description
How to fill out Medicaid Long Term Care Handbook, Planner, And State Resource Guide?
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FAQ
To protect its security interest, a secured party must take steps to ?perfect? its lien. A lien is usually perfected by filing a financing statement with the Secretary of State, or in some cases with the county recorder.
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.
What does it look like? A UCC-1 financing statement contains three important pieces of information: Parts 1 and 2 contain the personal and contact information of the borrower. Part 3 contains the personal and contact information of the secured party?otherwise known as the creditor.
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.
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.
Revised Article 9 states that the proper place to file a financing statement for a foreign debtor is in the District of Columbia, UNLESS the foreign jurisdiction in which that debtor is located maintains a system to perfect security interests by filing or recordation.
Essentially, a UCC-1 can be described as a financing statement. In fact, it is sometimes called a UCC financing statement. A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtor's personal property.
This is Form UCC 1 (UCC Financing Statement). The financing statement is usually filed with the appropriate state office to give public notice of the secured party's security interest in the collateral.