What is a UCC filing in Indiana?
A Uniform Commercial Code (UCC) is a public notice that an individual has an interest in someone else’s property, usually as collateral for a debt. If you plan to use real estate as collateral for a UCC, you may record the document with the Recorder’s Office. The place to file a UCC document is listed in I.C.
Where do I file a UCC in Indiana?
| Secretary of State UCC Filing Office Contacts and Links | |
|---|---|
| Indiana | online searching |
| Phone: 317-232-3984 Fax: 317-233-3387 Indiana County Recorders 61 of 92 online | Mailing Address Indiana Secretary of State Business Services Division UCC Section 302 West Washington Street Room E-018 Indianapolis, IN 46204 QuickLists |
How long are UCC filings good for in Indiana?
(a) [Five-year effectiveness.] Except as otherwise provided in subsections (b), (e), (f), and (g), a filed financing statement is effective for a period of five years after the date of filing.
What are UCC filings?
Uniform Commercial Code (UCC) filings allow creditors to notify other creditors about a debtor’s assets used as collateral for a secured transaction. UCC liens filed with Secretary of State offices act as a public notice by the “creditor” of the creditor’s interest in the property.
How much does it cost to file a UCC in Indiana?
111.1 The fee for filing and indexing a UCC document of one or two pages (excluding instruction sheets) communicated on paper or in a paper-based format is $4.00. If there are more than two pages, the fee for filing and indexing is $8.00.
Can you file UCC-1 online?
With the UCC Online portal, starting an initial filing or amendment against an initial filing is simple. And if you need to stop and come back later while filing, you can save your progress to pick up where you left off.
How do I terminate a UCC lien?
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.
Can you file a UCC-1 without a security agreement?
The court noted that the California Commercial Code provides that a person may file a UCC-1 only if the debtor authorizes the filing by (1) authenticating a security agreement; (2) becoming bound as debtor by a security agreement; or (3) acquiring collateral in which a security interest is attached.
Can anyone file a UCC?
Article 9 of the Uniform Commercial Code governs secured transactions. It provides a mechanism whereby a secured creditor can perfect its security interest in the debtor’s assets by filing a UCC-1 financing statement. In theory, anyone can file a UCC-1 against anyone else.
How do I fill out a UCC-1 form?
How to complete a UCC1 (Step by Step)
- 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.
How do you fight a UCC lien?
How do I get rid of UCC filings?
What do you need to know about UCC filings?
Debtor’s name: This can be either an organization (partnership,corporation,etc.) or individual (including sole proprietorships).
What are the UCC filing requirements?
– Financing Statement (UCC-1) – Financing Statement Amendment (UCC-3) – Request for information (UCC-11) – Transmitting Utilities
Can someone explain what is UCC filing?
What is a UCC filing? A UCC filing, or UCC lien, is a part of that collection of laws that refers to a kind of temporary claim which a lender may place on certain assets. When you borrow from a lender, they may decide to place a UCC-1 lien on your property and, in exchange, provide you with a loan of an equivalent value.
What are the UCC 1 filing guidelines?
The creditor’s name and address.