Financing Statement Additional Party form for adding additional Debtors or Secured Parties to Financing Statements (Form UCC1) filed with the Louisiana filing office.
Louisiana UCC1 Financing Statement Additional Party
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FAQ
What Is a Blanket Lien? A blanket lien, also called a UCC-1 lien, gives a lender a legal claim to all of a borrower's business assets if the borrower defaults on the loan. In the event of a default, the lender can seize all of the business's assets up to the value of the debt, and sell them to repay the debt.
UCC-1 Financing Statements do not have to be signed by either the Debtor or Secured Party; however, they must be authorized.Although the UCC-1 Financing Statement does not require signatures, any attachment such as the legal description or special terms and conditions may require the signature of the Debtor.
An intercreditor agreement is a bit different than a subordination agreement. They both serve to do the same thing, allow two different lenders to split up the collateral of a business so both can be secured in the first lien on their respective collateral.
The secured party has 20 days to either terminate the filing or send a termination statement to the debtor that the debtor can then file. If this does not happen within the 20-day time frame, the debtor may file a UCC-3 termination statement.
Make your home refinance possible Despite its technical-sounding name, the subordination agreement has one simple purpose. It assigns your new mortgage to first lien position, making it possible to refinance with a home equity loan or line of credit.
Fffd There is no provision in the Uniform Commercial Code to file a subordination agreement. Not filing a subordination agreement does not harm any other creditor.
It should be noted that UCC financing statements filed now generally do not contain a grant of the security interest and generally are not signed or otherwise authenticated by the Debtor and therefore would not satisfy the requirement of a security agreement.
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.
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.
