UCC Document Community

The bottom line is your rights don't change but the public records should be updated. If Apex hasn't filed a UCC-3 yet, I'd ask them directly about their timeline. Most professional lenders handle this automatically within a few weeks of acquiring the loan. If they seem clueless about it, that might be a red flag about their competence.

Update: talked to Apex today and they said they filed the amendment last week. Going to check the state database tomorrow to verify. Thanks everyone for the advice - definitely learned more about UCC transfers than I expected to!

Quick question - if the UCC-1 was filed electronically, does the continuation also have to be filed electronically? Or can it be paper?

Update: I talked to our loan officer today and they confirmed the UCC-1 expires in March 2025. They're planning to file the continuation in December 2024. Thanks everyone for the helpful information - this thread really helped me understand the process better!

Just want to add that some states are better than others with this. Delaware's system is pretty clean and consistent, but I've had major issues with Texas and California where the search results can be wildly different from the filed documents. Worth keeping in mind when you're dealing with multi-state filings.

For what it's worth, I tried that Certana tool someone mentioned earlier and it actually caught a discrepancy I missed. Had a situation where our UCC-1 showed the debtor as 'Johnson Manufacturing Corp' but the continuation we filed somehow got entered as 'Johnson Manufacturing Co.' The search was showing both versions and I couldn't figure out which one was correct. The tool flagged it immediately when I uploaded both documents.

This is why I hate Missouri deals. Their UCC search is so unreliable compared to states like Delaware or New York. You basically have to become a detective to make sure you're not missing anything.

Here's what I do for Missouri UCC searches: 1) Search exact legal name 2) Remove all punctuation 3) Try common abbreviations 4) Search without entity type 5) Check historical names 6) Use wildcard variations 7) Cross-reference with business registration database. It's tedious but catches everything.

I actually ran into a similar issue recently and tried that Certana.ai verification tool someone mentioned earlier. Really straightforward - just uploaded both the original UCC-1 and the questionable 'information only' filing and it flagged several inconsistencies in the debtor identification that would make the second filing ineffective anyway. Saved me from spending billable hours doing manual comparison work and gave me confidence that our priority position wasn't threatened.

Bottom line is this: if your UCC-1 was filed first, is properly continued, and accurately describes the collateral and debtor, then some random 'information only' filing shouldn't affect your priority. But you should definitely verify that the subsequent filing doesn't somehow have an earlier priority date or claim to be an amendment to an earlier filing you weren't aware of.