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Been doing NY UCC filings for 15 years and they've definitely gotten pickier about form versions lately. Electronic system is much more forgiving than paper.
You'll find it much smoother. Paper forms are becoming obsolete anyway.
Agreed. Most states are pushing electronic filing as the preferred method now.
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When I did my last mass search, I found that breaking it into smaller batches helped. Do 25-30 names at a time so you don't lose track.
And take breaks! After about 50 searches your eyes start to glaze over and you miss things.
This is exactly why automated tools are so valuable. No eye strain, no missed details, just consistent results across all your searches.
Whatever system you use, double-check a few searches manually to make sure you're getting complete results. Trust but verify.
Definitely planning to spot-check the results. Can't afford to miss anything on a deal this size.
Good approach. I always verify at least 10% of any bulk search results manually.
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Don't forget about the timing requirements. UCC-1 filings are usually required within a specific timeframe after the security agreement is signed. Missing that window can affect the priority of your lender's security interest versus other creditors.
What's the typical timeframe? Our loan documents don't specify exactly when the UCC filings need to be completed.
It varies by lender and loan agreement, but most require UCC-1 filings within 30 days of closing. Some want them filed before funding. Check your loan documents carefully or ask your lender directly.
Multi-state filings are a pain but manageable if you're organized. Create a checklist for each state with their specific requirements, fee schedules, and portal quirks. Ohio lets you file online but their system times out frequently. Michigan's portal is more reliable but has stricter formatting requirements. Indiana is somewhere in the middle.
This is incredibly helpful. Are there any other state-specific issues we should watch out for with Ohio, Michigan, and Indiana?
Ohio is picky about address formatting - use their exact format from the SOS database. Michigan requires specific debtor type designations. Indiana has additional requirements for certain types of collateral. Each state's UCC division website has detailed instructions.
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The restaurant industry has specific considerations too. Don't forget about fixtures vs equipment distinction. That pizza oven bolted to the floor might need a fixture filing instead of standard UCC-1.
Fixture filings go in real estate records not UCC records. Different process entirely.
Exactly, and if you only do UCC-1 on fixtures you might not have perfected security interest at all.
Bottom line for security interest definition: it's your contractual right to repossess and sell collateral upon default. UCC Article 9 governs how you perfect that interest through filing. Your rejected filing probably just needs more specific collateral description, not a redefinition of what security interest means legally.
Perfect summary. Going to redraft with specific restaurant equipment categories and refile. Thanks everyone for clarifying the concepts.
Make sure your revised collateral description matches exactly what's in your security agreement too.
Paolo Rizzo
I've been doing UCC work for 15 years and this search reliability problem is relatively new. Used to be you could trust that filed documents would show up consistently in searches. Now you need to verify everything multiple times. Really concerning for lien perfection purposes.
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Paolo Rizzo
•Technically the filing creates the perfection, not the search results. But from a practical standpoint, inconsistent searches create huge problems for due diligence.
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Amara Nwosu
•This is why I always keep detailed records of every search I run, including screenshots and timestamps.
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Amina Sy
Update: I contacted the SOS office and they confirmed there are known issues with search synchronization. They're working on a fix but no timeline yet. In the meantime, they suggested running searches at different times and keeping detailed records of any inconsistencies.
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Amina Sy
•They said if you need definitive search results for closing or legal purposes, you can request a certified search for a fee.
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Dmitry Smirnov
•Of course there's a fee involved. They break their own system and then charge us to get accurate results.
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