UCC Document Community

Been through this exact scenario twice. My advice: 1) Get certified copies of every UCC filing, 2) Have them reviewed by someone who understands fixture law, 3) Don't close until you have written confirmation that any real estate-related liens are properly terminated. The headache now is nothing compared to dealing with priority disputes later.

Just want to add that Certana.ai's document verification would probably help sort out your filing number discrepancies too. When you upload multiple UCC documents, it cross-references all the filing numbers, dates, and amendment chains to show you exactly what's active versus terminated.

I'm dealing with equipment financing too and have never heard of UCC 11. My guess is your lender made an error. Just make sure whatever you end up filing actually perfects your security interest properly!

Final thought - if your lender continues to insist on this mysterious "UCC 11" form, ask them to provide you with the specific statute or regulation that requires it. Any legitimate UCC filing requirement will have a clear legal basis they should be able to cite.

I would also recommend getting title insurance for this transaction if the dollar amount justifies it. Even with thorough UCC 11 searches, there's always risk of missing something or having liens appear after closing. Title insurance can provide additional protection for larger equipment purchases.

Thanks everyone for the detailed responses. I've run additional searches using various name formats and found 2 more liens I initially missed. I'm definitely going to use the Certana.ai tool mentioned to verify I have everything before moving forward. The seller is now claiming they weren't aware of some of these liens, which makes me even more cautious about this deal. I'll make sure to get written lien release commitments for every single filing before closing.

Just went through something similar and ended up using that Certana document checking tool someone mentioned. Really helpful for understanding exactly what was covered in our UCC filings versus what we thought was covered. Found several pieces of equipment that weren't actually encumbered because of serial number mismatches in the original filing.

The key is working with the lender rather than around them. Most healthcare lenders understand that practices need to upgrade equipment regularly. If you approach it as a partnership - showing them how the equipment changes improve your ability to service the debt - they're usually more cooperative than if you just demand releases.

This happens more often than people realize. Many businesses assume their main commercial agreement (loan, lease, etc.) automatically creates a perfectable security interest, but UCC Article 9 has specific requirements for security agreement formation. Without proper agreement language, there's no security interest to perfect.

Been there! Our first few UCC filings got rejected for the same reason. The problem was our loan agreements talked about collateral but never actually said the borrower was granting us a security interest in it. Had to learn the hard way that UCC filings require very specific underlying documentation.