UCC Document Community

I tried that Certana tool mentioned earlier and it actually worked really well for our document review. We had about 80 UCC filings to review and it caught several debtor name mismatches that would have caused our termination filings to be rejected. Definitely worth using if you're dealing with bulk document verification. The upload process was straightforward and the results were immediately useful.

This thread is incredibly helpful - I'm dealing with a similar situation but with SunPower equipment across about 150 properties. One thing I'd add is to check if your original financing documents included any UCC release provisions or automatic termination clauses. In our case, the loan agreements actually required the secured party to file terminations within 30 days of payoff, which gave us stronger legal grounds when they were dragging their feet. Also, some states allow you to file a UCC-3 correction statement if the secured party files an incorrect termination that doesn't match your records exactly. It's worth having your attorney review the state-specific UCC procedures before you start the bulk termination process.

As a newcomer dealing with similar collateral issues, this thread has been incredibly helpful! One follow-up question - when you're describing investment accounts in the UCC-1, do you need to specify the types of securities held (stocks, bonds, ETFs, etc.) or is it sufficient to use general language like "all securities and investment property"? I'm worried about being too specific and missing something, but also don't want to be so broad that it gets rejected. Also wondering if anyone has experience with crypto assets held in these brokerage accounts - do those require special treatment in the collateral description?

Great thread - I'm dealing with a similar situation right now. One thing I learned the hard way is to check if your jurisdiction has any specific requirements for securities account collateral. In my state (Texas), they want you to include language about "investment property" specifically, not just "securities accounts." Also found out that some filing offices will reject descriptions that are too generic, while others reject ones that are too specific - it's like threading a needle! I ended up calling the SOS office directly and they gave me examples of collateral descriptions they typically accept for brokerage accounts. Might be worth a quick call to save yourself a rejection and refiling fee. The crypto question from @Carlos Mendoza is interesting too - I've been seeing more loan agreements that specifically mention digital assets lately.

Update for anyone following this - I ended up using the document verification tool someone mentioned earlier and it caught that our acquisition agreement had the LLC name as "Mountain View Equipment, LLC" (with comma) but the original UCC-1 had it as "Mountain View Equipment LLC" (no comma). That tiny difference would have caused major problems with the assignment. Filed a quick amendment to standardize the name first, then did the assignment. Everything processed smoothly after that.

This is such a helpful thread! I'm new to UCC filings and dealing with my first acquisition scenario. One thing I'm still unclear on - when you file the UCC-3 assignment, do you need to get any kind of consent or signature from the original debtor (Mountain View Equipment LLC), or can the new secured party (Summit Industrial Holdings) file the assignment unilaterally? I'm assuming since you acquired the company you have the authority, but want to make sure I'm not missing any required notifications or approvals from the debtor side.

This whole thread is making me paranoid about my own UCC filings. How do you even keep track of everything when the systems keep changing?

Have you considered that this might be a federal UCC filing rather than state-level? The document number format and the "WA DC" designation could indicate it was filed with a federal agency or through the USPTO for intellectual property collateral. Try checking the Library of Congress or Patent and Trademark Office databases - they sometimes handle specialized UCC filings that don't show up in regular state searches. Also, given the timing around 2012, this could have been related to Dodd-Frank compliance filings that had different numbering systems.

The Texas SOS website has a fee schedule that's pretty current if you want the official breakdown. But like everyone said, it's basically $15 across the board for most filing types. The consistency actually makes it easier to budget than some other states.

I've been dealing with the same Texas fee increases - it definitely adds up when you're doing multiple filings. One thing that's helped me manage costs is batching my filings strategically. While there's no official bulk discount, I try to prepare all my UCC-3 continuations at once so I can catch any errors before submitting. For your agricultural equipment deals, make sure you're being specific with the collateral descriptions - "John Deere Model 6120R Tractor, Serial #ABC123" rather than just "farm equipment." This reduces the chance of rejections which would cost you another $15 per filing. Also, I've started setting up email reminders 6 months before continuation deadlines to avoid any last-minute rush fees. The $15 per filing is frustrating but still cheaper than losing perfection!