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North Dakota UCC Lien / Notice of Amendment / Assignment / Termination

North Dakota UCC Lien / Notice of Amendment / Assignment / Termination

Name: North Dakota UCC Lien / Notice of Amendment / Assignment / Termination
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.68 (400 reviews)

Category:

North Dakota Contracts - Uniform Commercial Code

State:

North Dakota

Control #:

ND-UCC-ASL-4

Format:

Instant download

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Description

Lien / Notice of Amendment / Assignment / Termination form for filing to update a lien as specified within the form with the North Dakota filing office.

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FAQ

Ask the lender to terminate the lien upon payoff. 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.

After receiving your request, the lender has 20 days to terminate the UCC filing.

When the debtor has satisfied all amounts owed to the lender, a UCC-3 termination statement (now called a UCC termination statement) is routinely filed to terminate the security interest perfected by the UCC-1 financing statement.

Form UCC3 is used to amend (make changes to) a UCC1 filing.However, it is important to note that for a UCC1 filing a termination is only an amendment and that the UCC1 filing may be amended further, even after a termination has been filed. Box 3 Continuation A UCC1 filing is good for five years.

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.

A UCC-3 termination statement (a Termination) is a required filing that terminates a security interest that has been perfected by a UCC-1 filing. 1. A Termination for personal property is accomplished by completing and filing form UCC-3 with the Secretary of State's office in the appropriate state.

Under the Uniform Commercial Code (the UCC), a security interest in personal property of a debtor is perfected by filing a UCC-1 financing statement (now called a UCC initial financing statement) with the applicable state filing office.

North Dakota UCC Lien / Notice of Amendment / Assignment / Termination

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How do I file a UCC 3 Termination?

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