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US Legal Forms
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Long Beach
UCC1-AD Financing Statement Addendum

Long Beach California UCC1-AD Financing Statement Addendum

Category:

Contracts - Uniform Commercial Code - Financing Statements

State:

Multi-State

City:

Long Beach

Control #:

US-UCC1-AD

Format:

Word;

PDF

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Description

This form is a UCC Financing Statement Addendum for use in documenting personal property used as collateral for a loan. Available in Word and Adobe pdf format.

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Interesting Questions

What happens if I fail to file a UCC1-AD?

If you skip filing a UCC1-AD when it's needed, your rights to the collateral might be in jeopardy. It’s like leaving the door unlocked; you never know who might wander in!

Can I amend a UCC1-AD after it’s filed?

Yes, you can amend a UCC1-AD if you need to change information. It's like updating your address when you move; you want the right info to avoid any mix-ups.

How long is the UCC1-AD effective?

Once filed, a UCC1-AD is generally effective for five years. Think of it as a good long run, but you'll want to keep your eye on it as the deadline approaches.

What kind of information goes into a UCC1-AD?

A UCC1-AD includes details like the names of the parties involved, descriptions of the collateral, and any additional notes. It's all about being clear as day!

Who files the UCC1-AD in Long Beach?

Typically, the lender or secured party files the UCC1-AD to protect their interests. It's their way of keeping things above board.

Why would I need to file a UCC1-AD?

You'd file a UCC1-AD to add or clarify details about a secured transaction. It's like icing on the cake that makes sure everyone understands what's covered.