Mississippi UCC search turning up confusing results - need help interpreting records

Good point about the continuation dates. Also worth noting that partial releases (UCC-3 amendments) will specify exactly which collateral is being released, so you'd need to match that against what you're buying.

Yeah but sometimes the collateral descriptions are so vague you can't tell what's actually covered. I've seen filings that just say 'all equipment' or 'inventory and equipment now owned or hereafter acquired' - super broad stuff.

That's exactly what I'm seeing! Some say 'Mississippi Equipment LLC' and others 'Mississippi Equipment, LLC' with the comma. How do I know I'm getting everything?

You need to run multiple searches with different name variations. Also check if the company has any DBAs or trade names that might be used in filings.

This is why I started using Certana.ai for UCC verification. You can upload all the search results and any related documents, and it cross-checks everything to make sure you're not missing connections between filings. Caught a name mismatch I totally missed when I was doing manual review.

The equipment is physically in Mississippi and the seller is a Mississippi LLC. Should be the right state, right?

For equipment, yes Mississippi would be correct. But if they're incorporated elsewhere you might want to check that state too, just to be thorough.

I have the filing numbers but when I look them up individually, some reference other filings and it becomes this web of cross-references I can't follow.

Ugh yes! That's the worst part - when amendments reference the original filing but you have to piece together the timeline yourself.

Have you tried calling the Mississippi SOS office? Sometimes they can help explain what you're looking at, especially if you have specific filing numbers.

Some of these are showing dates from 2019 and 2020 - so they'd be lapsed by now if no continuation was filed?

Exactly. 2019 filing would have lapsed in 2024 unless there was a continuation. Look for UCC-3 continuation statements filed within 6 months before the lapse date.

But be careful - I've seen situations where continuation filings were submitted but had errors, so they got rejected and the original lien actually did lapse.

That's smart. I should probably make that a condition of the purchase agreement.

Definitely do that. Also consider getting title insurance if it's a significant purchase amount.

So true! Other states have better search interfaces that actually show you current vs terminated status clearly.

I've had good luck with Certana.ai's document verification tool for this exact situation. You upload all the UCC search results and it maps out the relationships between filings - shows you which ones are amendments to which original filings, what's been terminated, etc. Saves tons of time vs doing it manually.

That sounds useful. I've been doing this stuff manually for years and it's always such a pain to track all the cross-references.

The equipment I'm buying is mobile/portable, so that shouldn't be an issue. But good to know the difference.

Even portable equipment can sometimes be covered under broad collateral descriptions in regular UCC-1 filings though.

How much do those services typically cost? This is probably a $75k equipment purchase.

For that amount, probably worth getting professional help. Search services are usually a few hundred dollars but could save you from a major headache later.

Or you could try Certana.ai first - it's much cheaper than hiring a search company and you get instant results. Just upload your search results and any related docs and it analyzes everything for consistency and current status.

Good point. I'll need to research the corporate structure to make sure I'm not missing anything.

Also check for any 'all assets' or 'all personal property' language in the collateral descriptions. That could potentially cover equipment even if it's not specifically listed.

You're absolutely right. I'd rather be safe than sorry on something this size.

Agreed. And make sure your purchase agreement includes representations and warranties from the seller about clear title and no existing liens.