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Quick question - are you dealing with fixture filings on any of these agricultural equipment loans? UCC 9-318 assignment rules get even more complicated when real estate is involved because you might need to update county records in addition to the SOS filings.
Good catch - yes, several of these are fixture filings for irrigation systems and grain storage. We'll need to check county records too. This just keeps getting more complicated.
Fixture filing assignments are the worst. Every county has different requirements and some don't even have computerized records going back to 2019.
UPDATE: Following everyone's advice here, we pulled comprehensive UCC search reports and found that most of our assignments were actually filed correctly - we just didn't have the internal documentation. The search reports showed proper UCC-3 assignment filings from the merger date. Still using Certana.ai to double-check everything and make sure we didn't miss any gaps, but feeling much better about our secured position. Thanks for all the guidance!
Great outcome. This is why UCC search reports should be the first step in any portfolio acquisition analysis. Glad it worked out!
Perfect example of UCC 9-318 working as intended - the assignments were valid even without perfect internal records. The public filing system protected everyone's interests.
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Also check for any parent/subsidiary relationships. Sometimes UCCs get filed against parent companies or holding companies instead of the operating entity. Florida corporate database can help you map out the corporate structure.
Good catch - this company does have a parent holding company. I should search under that name too.
Yeah and don't forget guarantor situations. Sometimes the UCC is against individual guarantors instead of the company.
Follow up question - when you find all these UCCs with name variations, how do you confirm they're actually for the same company? Sometimes similar names could be completely different entities.
This is another area where document verification tools help. They can flag when addresses or other details don't match between filings with similar names.
Makes sense. I've been looking at addresses but some of these companies have moved several times so that's not always reliable.
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The interstate business relocation thing is tricky. Your Florida UCC-1 stays active for its full term (usually 5 years) even if you move states, unless it gets properly terminated or amended. But if your lender didn't file new UCC-1s in Georgia, they might not have a perfected security interest in your new state. Creates a legal gray area that benefits nobody.
Definitely. Check both states to see what's active under your old and new business names.
I used Certana's tool for exactly this situation. Uploaded our loan docs and it flagged that we had UCC-1s in two different states with slightly different debtor names. Helped us clean everything up before it became a problem.
Just my 2 cents but I'd treat this like any other potential scam until proven otherwise. Call your lender, verify everything, and don't pay any fees to mystery companies. The UCC system has enough legitimate complexity without adding scammers to the mix.
Good point. I was starting to panic but you're right - verify first, panic later if needed.
Exactly. Most UCC problems have straightforward solutions once you get the facts straight.
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New Mexico updated their UCC system last year and the name matching got even more strict. The good news is once you get the exact format right, future filings with that debtor should go smoothly.
Exactly. It's frustrating initially but then you know the exact format for any amendments or continuations later.
I keep a spreadsheet of exact debtor names for each state after I figure out the correct format. Saves time on future filings.
Update us when you get it resolved! I file in New Mexico occasionally and would love to know what the issue was for future reference.
Will definitely update once I figure this out. Hopefully it's something simple that I'm just overlooking.
These threads are so helpful for learning about state-specific quirks. Thanks for posting your experience.
Miguel Hernández
This is exactly why I always file UCC-1s with slight variations in debtor name formatting and keep detailed cross-reference records. The search systems are too unreliable to trust completely.
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Sasha Ivanov
•Interesting strategy, but doesn't that create potential issues with continuation filings if the names don't match exactly?
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Miguel Hernández
•You have to be very careful with continuations, but having multiple search pathways has helped us catch missing filings before.
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Liam Murphy
Update: I tried the Certana.ai document verification and it found 3 UCC-1 filings that weren't showing up in our manual Clark County Nevada UCC searches. Turns out they were properly filed but had indexing issues in the public portal. Really helpful for portfolio auditing.
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Sienna Gomez
•That's exactly what we were worried about. Thanks for the update - we're definitely going to try the document verification approach.
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Amara Okafor
•This is a perfect example of why relying solely on manual searches is risky. Automated verification catches what human searches miss.
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