The Minnesota Statement of Continuation and Termination is a document that is used to record the transfer of property ownership from one person to another. This document is used to ensure that all current and former owners of the property are aware of the transfer. There are two types of Minnesota Statement of Continuation and Termination: a Continuation Statement and a Termination Statement. A Continuation Statement is used when transferring property from one owner to another, and a Termination Statement is used when canceling an existing ownership agreement. Both documents must be signed by all parties involved in the transfer and properly filed with the county recorder's office.
Minnesota Statement of Continuation and Termination
State:
Minnesota
Control #:
MN-SKU-0450
Format:
PDF
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Statement of Continuation and Termination
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A continuation statement is an amendment attached to a borrower's financing statement that extends the lender's lien on the borrower's collateral. Complete item 13 in accordance with instructions on Amendment Addendum (Form UCC3Ad).Succeeding continuation statements may be filed in the same manner to continue the effectiveness of the initial financing statement. The most common UCC form is the UCC-1 or Financing Statement. Step 3: Click on the File Effective Financing Statement or Statutory Lien Notice option under the CNS Liens column. If a termination or continuation was filed in error, you may file a Correction Statement. Q. If I file a UCC financing statement, is it a perfected lien? Complete information relating to Debtors and Secured Party as such appears on the original. If a termination or continuation was filed in error, you may file a Correction Statement. Q. If I file a UCC financing statement, is it a perfected lien?