Nebraska Attachment To UCC Financing Statement For Statutory Agricultural Liens is a form that is filed with the Nebraska Secretary of State’s office to give notice of an agricultural lien on personal property. This form provides the statutory lien holder with protection against other creditors, and allows the lien holder to take action to collect on an unpaid debt. There are two types of Nebraska Attachment To UCC Financing Statement For Statutory Agricultural Liens: an Original Lien and an Extension Lien. An Original Lien is filed when a debt is first incurred, and the Extension Lien is filed when the debt is renewed or extended. Both forms must be filed with the Nebraska Secretary of State’s office, and must include information about the lien holder, the debtor, and the collateral.
Nebraska Attachment To UCC Financing Statement For Statutory Agricultural Liens
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How to fill out Nebraska Attachment To UCC Financing Statement For Statutory Agricultural Liens?
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FAQ
In general, ?farm products? under the UCC includes goods, other than standing timber, which are crops, livestock, or supplies used in a farming operation.
As established in UCC §9 102-5, an agricultural lien is a lien placed on farm products like farm equipment or livestock that secures payment or performance in exchange for a loan of land, goods, or money.
Article 2 of the UCC governs the sale of ?goods,? which is defined as all things that are movable at the time of identification to a contract for sale. ?Goods? includes specially manufactured goods, the unborn young of animals, and growing crops.
To record your mechanics lien, you will need to take or deliver the completed form to the register of deeds in the Nebraska county where the property is located. A Nebraska lien may be delivered via mail or FedEx, or personally ?walked in? to be recorded (either by you or a courier).
Crops are one type of agricultural collateral that can easily be classified as farm products or inventory. This is because crops can change classification once harvested.
What does UCC stand for? UCC stands for Uniform Commercial Code. The UCC is a set of laws concerning commercial transactions, such as the sale of goods. It also covers secured transactions, where a lender gains the right to foreclose on a borrower's collateral should the borrower default on the loan.