Financing Statement Additional Party form for adding additional Debtors or Secured Parties to Financing Statements (Form UCC1) filed with the Pennsylvania filing office.
Allegheny, Pennsylvania UCC1 Financing Statement Additional Party is a legal document used in Allegheny County, Pennsylvania, to provide notice of a security interest in personal property. It serves as an addendum or supplemental information to the original UCC1 Financing Statement, which is typically filed to protect the rights of creditors over personal property. The purpose of including an additional party in the UCC1 Financing Statement is to inform other interested parties about the existence of multiple parties having an interest in the collateral. By adding a party, the filing entity ensures that all parties with potential claims on the collateral are properly accounted for. There are several types of UCC1 Financing Statement Additional Parties that can be named in Allegheny, Pennsylvania. Some common examples include: 1. Co-Debtor: A co-debtor is an individual or entity that is jointly responsible for the obligations associated with the collateral. By including a co-debtor in the financing statement, their interest in the collateral and liability for the debt are acknowledged and made known to other parties. 2. Guarantor: A guarantor is a third party who agrees to be responsible for the debtor's obligation if the debtor fails to fulfill their obligations. By including a guarantor in the UCC1 Financing Statement, their interest in the collateral and potential liability as a guarantor are disclosed. 3. Co-Borrower: In cases where multiple borrowers are party to a loan or financing arrangement, all co-borrowers can be listed as additional parties in the UCC1 Financing Statement. This ensures that their interest in the collateral and obligations are properly disclosed. 4. Assignee: An assignee is a party to whom the rights to a debt or security interest are transferred. If the collateral or rights are assigned to another party, they can be listed as an additional party in the UCC1 Financing Statement, providing notice of their interest. Including relevant keywords in the UCC1 Financing Statement Additional Party description helps improve its visibility and accessibility. Keywords may include Allegheny County, Pennsylvania, UCC1 Financing Statement, additional party, co-debtor, guarantor, co-borrower, assignee, collateral, security interest, personal property, legal document, notice of security interest, and debtor obligation.
