UCC, Fixtures & Lien Searches

How and where to search are two of the most important questions you start off with when you begin your due diligence process. Understanding search logic and the complex UCC filing process gives United Corporate Services, Inc. (UCS) the edge over our competition when it comes to providing the right results.
Over the past 25 plus years there have been significant amendments to the Uniform Commercial Code. The 2010 Amendments provide greater guidance as to the name of an individual debtor to be provided on a financing statement. The amendments offer two alternatives to each state:

  • Alternative A provides that, if the debtor holds a driver’s license issued by the state where the financing statement is filed, the debtor’s name as it appears on the driver’s license is the name required to be used on the financing statement. If the debtor does not have such a driver’s license, either the debtor’s actual name or the debtor’s surname and first personal name may be used on the financing statement.
  • Alternative B provides that the debtor’s driver’s license name, the debtor’s actual name or the debtor’s surname and first personal name may be used on the financing statement.

Use the attached chart for guidance on which states are utilizing the Alternative A method.

UCS provides search and filing results tailored specifically to our clients’ needs. Reports sorted by individual debtor per page or a more comprehensive summary report of all search results on one page. Both are easily provided in either .pdf format for secure closings or in Excel format for easy manipulation into your existing closing binder.

Contact your Client Representative about your next UCC project today.

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