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Public form
Description
UCC1 - National Financial Statement - For use after July 1, 2001. This form is a financing statement used to cover certain collateral as specified in the form. This Financing Statement complies will all applicable state laws.
Yes, anyone can search for UCC1 statements; they’re part of the public record. It’s like having an open book for interested parties.
A UCC1 statement lasts for five years in Texas, but you can renew it to keep your stake in the game for longer.
If it's not filed right, you might find yourself in a bit of a pickle. Your security interest could be jeopardized, and you might lose your claim.
You can file a UCC1 statement through the Texas Secretary of State's office. They have everything you need to get your ducks in a row.
It's important because it publicly announces a lender's claim to certain assets, which helps protect everyone's interests and keeps things above board.
A UCC1 financing statement is a legal document that a lender files to secure their interest in a borrower's assets. Think of it as a security blanket for loans.