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Uniform Commercial Code (UCC) filings allow creditors to notify other creditors about a debtor's assets used as collateral for a secured transaction. UCC liens filed with Secretary of State offices act as a public notice by the "creditor" of the creditor's interest in the property.
In California, the UCC searches are located at the Secretary of State. Federal and State tax liens and some judgments can be found at the state or County Recorder's office.
"Information Statement" means a UCC record that indicates that a financing statement is inaccurate or wrongfully filed. "Filing Officer Statement" means a statement entered by the Secretary of State into the UCC information management system to correct an error made by the Secretary of State's office.
1 filing is good for five years. After five years, it is considered lapsed and no longer valid. Should your debtor remain in debt to you and encounter financial difficulty or file for bankruptcy, you have no secured interest if your UCC1 filing has lapsed.
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The UCC-1 form is used to establish a creditor's claim on personal property as collateral. By filing this form, creditors notify the public and other potential creditors of their interest in specific assets.
(916) 442-4901.