Washington UCC Financing Statement Addendum is a document used to supplement and amend an existing UCC Financing Statement. It is required by the Washington State Department of Financial Institutions in order to perfect a security interest in personal property. There are three types of Washington UCC Financing Statement Addendum: Addendum A — Assignment of Security Interest, Addendum B — Continuation of Security Interest, and Addendum C — Termination of Security Interest. The Addendum A must be used when the original secured party transfers their security interest to another party. The Addendum B must be used to extend the effectiveness of the original UCC Financing Statement past its original expiration date. The Addendum C must be used to terminate the effectiveness of the original UCC Financing Statement.
Washington UCC Financing Statement Addendum
Description
How to fill out Washington UCC Financing Statement Addendum?
Handling official documentation requires attention, accuracy, and using well-drafted templates. US Legal Forms has been helping people countrywide do just that for 25 years, so when you pick your Washington UCC Financing Statement Addendum template from our service, you can be certain it complies with federal and state laws.
Dealing with our service is easy and fast. To obtain the required paperwork, all you’ll need is an account with a valid subscription. Here’s a quick guideline for you to find your Washington UCC Financing Statement Addendum within minutes:
- Remember to carefully examine the form content and its correspondence with general and legal requirements by previewing it or reading its description.
- Look for an alternative official template if the previously opened one doesn’t suit your situation or state regulations (the tab for that is on the top page corner).
- ​Log in to your account and save the Washington UCC Financing Statement Addendum in the format you prefer. If it’s your first experience with our website, click Buy now to continue.
- Register for an account, decide on your subscription plan, and pay with your credit card or PayPal account.
- Decide in what format you want to save your form and click Download. Print the blank or upload it to a professional PDF editor to prepare it electronically.
All documents are drafted for multi-usage, like the Washington UCC Financing Statement Addendum you see on this page. If you need them in the future, you can fill them out without re-payment - simply open the My Forms tab in your profile and complete your document any time you need it. Try US Legal Forms and accomplish your business and personal paperwork rapidly and in full legal compliance!
Form popularity
FAQ
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.
When you pay off a loan, a good rule of thumb is to immediately submit a request with the lender to file a UCC-3 form with your secretary of state. The UCC-3 will terminate the lien on your company's asset (or assets) and remove the UCC-1 filing.
A UCC3 is a change statement to a UCC1. It's an amendment filing to an original UCC1 financing statement that changes or adds information to the originally filed UCC1. It's a filing tool secured parties use to manage their UCC portfolio to maintain their perfected security interests.
Generally, the debtor must first make a formal (or authenticated) demand to the secured party of record to terminate the UCC-1. This process involves sending a signed written request to the secured party of record demanding for said party to file a UCC-3 termination statement.
How to complete a UCC1 (Step by Step) 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.
The Grantor is any person conveying or encumbering, whom any Lis Pendens, Judgments, Writ of Attachment, or Claims of Separate or Community Property shall be placed on record.
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.
An Example of a UCC Lien Filing If you secure equipment financing, the lender will file a UCC lien to state that if the debt for the espresso machine is not repaid, the lender has the right to repossess the espresso machine or seize other assets from your business.