Registered Agent Solutions, Inc. (RASi) has years of experience in the preparation and filing of Uniform Commercial Code (UCC) filings nationwide, both at the state and local levels of government. RASi is well-versed in the rules and standards set forth by Revised Article 9 (RA9) of the UCC, which affect the perfection of filing and search requirements of these secured transactions. Additionally, RASi has processed countless miscellaneous liens and real estate recordings.
UCC Financing Statements are public record filings that provide notice of a secured agreement formed between a debtor and a secured party listing collateral for the purpose of securing the financial obligation of the debtor. When the financing statement is filed it becomes a lien perfecting the secured party's security interests. It is important that the financing statement is filed in accordance with the RA9 requirements to ensure its legitimacy and recognition by others.
A financing statement is normally filed with the state office in which the debtor lives (if an individual) or where the debtor has incorporated (if a company). It is important that "exact legal names" be used when preparing these filings, to ensure that others searching the state indexes are able to locate any financing statements given priority, based on an earlier filing date. The use of exact names helps to limit confusion or misrepresentation that could later result in claims between secured parties over a debtor's collateral. Additionally as a matter of public record, these secured transactions take precedence over any unsecured transactions.
UCC Fixture Filings essentially perform the same function as UCC financing statements (described above), however the collateral described in the secured agreement relates to goods attached to real property (real estate) or land. Fixture filings are recorded at the local level of government (most commonly the county level) where the real property is physically located. Fixture filings may be filed using the nationally accepted UCC forms, while others are included in various real estate documents such as a deed. It is important however to include a legal description of the real property described and secured in the fixture filing.
In addition to recording UCC Financing Statements and UCC Fixture Filings, RASi has assisted many clients with the recording of miscellaneous real estate documents in local government offices (most commonly called the County Recorder). If you have any documents that you need hand-delivered to a local office for recording, RASi has a network of over 3,000 correspondents that are able to physically walk your document(s) in to a local office for immediate recording. For more information on real estate document filings or to place an order, please contact a representative in our Client Services Department.
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