The Uniform Commercial Code is a set of guidelines pertaining to commercial law. It provides a method of giving notice of a security interest in personal property to interested third parties.
The code provides for the recording of security agreements in which a loan of money is secured by collateral, thereby giving the lender rights to the property.
There are two primary types of UCC filings:
UCC-1: Financing Statement
The UCC-1 is an initial filing of a financing statement. According to N.C.G.S. § 25-9-502, a financing statement must contain the following information:
- Secured party's name and address
- Debtor's name and address
- Statement indicating types and/or descriptions of collateral
- Indicate it should be filed in the real estate records
Note: Submit a single copy for recording.
UCC-3: Financing Statement Amendment
The UCC-3 (amendment) is used for five kinds of secondary statements:
- Continuation of a financing statement
- Termination of a financing statement
- Assignment of a secured party's rights under a financing statement
- Amendments to a financing statement
- Release of part (or all) of the collateral covered by a financing statement
How to Search for a UCC filing?
Search for UCC's filed after July 1, 2001, online in Consolidated Real Property Index.
Fees and Payment
UCC-1 $38. ($45 if greater than 2 pages + $2 per page exceeding 10 pages. For example, a 13-page filing would cost $51.)
UCC-3 $38. ($45 if greater than 2 pages + $2 per page exceeding 10 pages. For example, a 13-page filing would cost $51.)
Make checks payable to:
Wake County Register of Deeds P.O. Box 1897, Raleigh, NC 27602
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