Connecticut Exhibit to UCC-1 Financing Statement regarding a Fixture Filing for a Commercial Loan In Connecticut, when filing a UCC-1 Financing Statement for a commercial loan that involves fixtures, it is necessary to include additional information specific to the state. This information is referred to as the "Connecticut Exhibit" and provides important details related to the fixture filing. The purpose of this exhibit is to fulfill the requirements set forth by Connecticut law and ensure proper notice and protection for all parties involved. The Connecticut Exhibit to the UCC-1 Financing Statement regarding a Fixture Filing for a Commercial Loan consists of the following essential elements: 1. Debtor's Name and Address: The exact legal name of the debtor, as well as their address, must be provided. Accuracy in this section is crucial to ensure proper identification of the party. 2. Secured Party's Name and Address: The secured party, typically the lender, must also be named along with their address. This information provides clarity and enables others to locate the party associated with the security interest. 3. Description of the Collateral: The collateral description should be provided in detail, emphasizing the fixtures involved. Fixtures refer to goods that become attached to real estate, such as machinery, equipment, or appliances that are essential to the functionality of a commercial property. 4. Property Location: The specific location of the commercial property where the fixtures are attached must be provided. This includes the street address, city, and county where the property is situated. 5. Legal Description: A legal description of the real estate property, such as the lot of number, block number, or any other identification method used in local property records, must be included. This assists in clearly identifying the property associated with the fixture filing. 6. UCC-1 Reference: A reference must be made to the UCC-1 Financing Statement to which this Connecticut Exhibit is attached. This ensures that the exhibit is properly linked to the initial filing and avoids any confusion. Additional types or variations of the Connecticut Exhibit to the UCC-1 Financing Statement regarding a Fixture Filing for a Commercial Loan may exist based on specific circumstances or requirements. For instance, if there are multiple debtors or secured parties involved, additional sections may be added to reflect these parties' information accurately. In conclusion, when filing a UCC-1 Financing Statement in Connecticut for a commercial loan involving fixtures, it is crucial to include the Connecticut Exhibit. This exhibit contains essential details such as the debtor's and secured party's information, a comprehensive description of the fixtures, the property location and legal description, and a reference to the UCC-1 Financing Statement. By including this exhibit, lenders ensure compliance with Connecticut law and provide proper notice to interested parties, protecting their security interest in the fixtures.
Connecticut Exhibit to UCC-1 Financing Statement regarding a Fixture Filing for a Commercial Loan
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How to fill out Exhibit To UCC-1 Financing Statement Regarding A Fixture Filing For A Commercial Loan?
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Ing to the Uniform Commercial Code, UCC's for a registered business such as a corporation are to be filed in the state where the business filed its organizing paperwork, while UCC's naming an individual as debtor would be filed in the state where the individual holds their primary residence.
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 personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.
By Mail: send the completed form with the processing fee of $40 to the New York State Department of State, Division of Corporations, State Records and Uniform Commercial Code, One Commerce Plaza, 99 Washington Avenue, Albany, New York 12231.
Most financing statements are filed in the office of the Clerk of Court in the county where the debtor lives. All financing statements, no matter where they are filed and recorded in Georgia, are scanned into a state-wide database accessible via a publicly available computer link in the Clerk of Court's office.
A UCC financing statement ? also called a UCC-1 financing statement or a UCC-1 filing ? is a legal form that allows a lender to announce a lien on an asset to secure a loan. By filing the UCC financing statement, the lender is giving notice that it has an interest in the property listed in the filing.
A fixture filing is a UCC-1 financing statement authorized and made in ance with the UCC adopted in the state in which the related real property is located. It covers property that is, or will be, affixed to improvements to such real property.
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.
UCC-1 Financing Statement The UCC-1 form, or Financing Statement, is a form you must file to place a lien on property or assets belonging to someone you have made a loan to. This creates a public record and serves as evidence in any legal dispute over liability.
