How do I look up a UCC lien in Texas?

How do I look up a UCC lien in Texas?

You can find Uniform Commercial Code information on any person or corporation in Texas or other states by performing a search on the UCC website of the state or territory where the person resides or the corporation is registered.

Is Texas a UCC state?

In Texas you can search for UCC-1 filings made against your company through a website provided by the Texas Secretary of State’s office. There is a very small fee for conducting this search. Normally a UCC-1 Financing Statement expires five years from the date and time of filing as indicated on the UCC-1 form.

What does a UCC search do?

A UCC search is a process through which business owners contact the secretary of state for the state in which their business is located and request all their UCC information. In some states, you won’t have to contact your secretary of state’s office at all – instead, you can use an online database for UCC lookup.

What is a UCC lien in Texas?

A Uniform Commercial Code (UCC) lien filing, or UCC filing, is a notice lenders file to inform others of their claim in the assets owned by the borrower in the event of default.

How do I research a UCC filing?

Locate the correct secretary of state’s website. These directories provide basic information on whether a UCC filing exists. You can easily find the website for each state’s secretary of state by visiting the website of the National Association of Secretaries of State at http://www.nass.org/.

What happens after UCC filing?

A UCC filing is generally active for five years. After that time period, the lender must renew the filing to retain the rights to your assets. Most lenders will allow the lien to expire on its own, but if you want to remove a lien before that, you must file a UCC-3 financing statement.

How serious is a UCC lien?

A UCC lien isn’t anything that drastic. It’s more like a mortgage because it’s a lien to which you agree in return for the loan. As long as you keep up your payments, it shouldn’t cause problems. However, if you need additional financing at some point, the next lender knows lender number one will get paid first.

How long does a UCC filing last in Texas?

All UCC’s that are filed with the County Clerk are valid for (5) years. Any statement that expires may be continued with the Secretary of State. If the statement remains effective past July 01, 2002, a new UCC will need to be filed. Please direct any questions to the Texas Secretary of State.

How do I find my UCC?

“My Records” contains all your active filed UCC filings and lien notices in one place. Here you can see the status of each filing, access detailed filing histories including images, and initiate amendments. The UCC Online web portal tool is the latest expansion of the Secretary of State’s bizfile California portal.

What is Texas UCC code?

The Uniform Commercial Code allows a creditor, typically a financial institution or lender, to notify other creditors about a debtor’s assets used as collateral for a secured transaction by filing a public notice (financing statement) with a particular filing office.

What is a UCC filing in Texas?

How do you avoid UCC filing?

To do so you will generally need to make a trip in person down to your secretary of state’s office. Once there, you will be able to swear under oath that you’ve satisfied the debt in full and wish to request for the UCC-1 filing to be removed.

Is a UCC lien bad?

Having a UCC-1 filing or lien tied to your name or business isn’t necessarily a bad thing. It’s simply a public record stating that a lender has the rights to certain assets until that loan is repaid. That record will also show if the loan has been repaid or not.

Can you sell an asset with a UCC lien?

Remember: as long as an asset has a UCC lien filed against it, you’re not allowed to transfer, sell, or use it as collateral for any other loan.

Do UCC filings show up on personal credit report?

Although a creditor may file a UCC-1 against personal property, they do not appear on personal credit reports.