Las Cruces New Mexico UCC1 Financing Statement Addendum

• Category: New Mexico Contracts - Uniform Commercial Code
• State: New Mexico
• Control #: NM-UCC1-A
• Format: PDF

Description

UCC1 - Financing Statement Addendum - New Mexico - For use after July 1, 2001. This form permits you to add an additional debtor if necessary to cover collateral as specified in the statement. Las Cruces, New Mexico UCC1 Financing Statement Addendum refers to a legal document that serves as an extension or attachment to the UCC1 financing statement. This addendum provides additional provisions, amendments, or information related to the initial UCC1 filing in Las Cruces, New Mexico. It helps to clarify details or modify the terms of the original filing to ensure accurate and up-to-date information. The UCC1 Financing Statement Addendum is crucial for maintaining the security interests of parties involved in transactions such as loans, leases, or sales of personal property in Las Cruces, New Mexico. By utilizing this addendum, lenders, debtors, and other related parties can protect their rights as secured creditors and ensure compliance with the Uniform Commercial Code (UCC). Different types of Las Cruces, New Mexico UCC1 Financing Statement Addendum can include: 1. Amendment Addendum: This addendum is used when making changes or updates to the existing UCC1 financing statement. It allows parties to correct any errors, modify collateral descriptions, add or remove secured parties, or revise other relevant information. 2. Continuation Addendum: When the UCC1 financing statement is approaching its expiration date, the continuation addendum is filed. This ensures that the security interest remains effective and continues for an extended period, typically for five years. 3. Termination Addendum: This type of addendum is filed when a secured party wishes to terminate their security interest in the collateral described in the UCC1 financing statement. It officially releases any claim or right to the personal property mentioned in the original filing. 4. Assignment Addendum: When a secured party transfers or assigns their rights in the collateral to another party, an assignment addendum is used. It reflects the change in the secured party's identity and ensures that the proper assignment is documented in accordance with the UCC. It is important to consult with legal professionals or experts well-versed in Las Cruces, New Mexico laws and regulations to ensure compliance and accuracy when preparing and filing a UCC1 Financing Statement Addendum. Understanding the specific requirements and deadlines set forth by the New Mexico Secretary of State Office will help parties involved in transactions protect their interests effectively.

Las Cruces, New Mexico UCC1 Financing Statement Addendum refers to a legal document that serves as an extension or attachment to the UCC1 financing statement. This addendum provides additional provisions, amendments, or information related to the initial UCC1 filing in Las Cruces, New Mexico. It helps to clarify details or modify the terms of the original filing to ensure accurate and up-to-date information. The UCC1 Financing Statement Addendum is crucial for maintaining the security interests of parties involved in transactions such as loans, leases, or sales of personal property in Las Cruces, New Mexico. By utilizing this addendum, lenders, debtors, and other related parties can protect their rights as secured creditors and ensure compliance with the Uniform Commercial Code (UCC). Different types of Las Cruces, New Mexico UCC1 Financing Statement Addendum can include: 1. Amendment Addendum: This addendum is used when making changes or updates to the existing UCC1 financing statement. It allows parties to correct any errors, modify collateral descriptions, add or remove secured parties, or revise other relevant information. 2. Continuation Addendum: When the UCC1 financing statement is approaching its expiration date, the continuation addendum is filed. This ensures that the security interest remains effective and continues for an extended period, typically for five years. 3. Termination Addendum: This type of addendum is filed when a secured party wishes to terminate their security interest in the collateral described in the UCC1 financing statement. It officially releases any claim or right to the personal property mentioned in the original filing. 4. Assignment Addendum: When a secured party transfers or assigns their rights in the collateral to another party, an assignment addendum is used. It reflects the change in the secured party's identity and ensures that the proper assignment is documented in accordance with the UCC. It is important to consult with legal professionals or experts well-versed in Las Cruces, New Mexico laws and regulations to ensure compliance and accuracy when preparing and filing a UCC1 Financing Statement Addendum. Understanding the specific requirements and deadlines set forth by the New Mexico Secretary of State Office will help parties involved in transactions protect their interests effectively.