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Multiple Secured Parties: Terminations

Complications with Multiple Secured Parties: Part 1 – Terminations Most people do not appreciate the potential complications involved when a search reveals multiple secured parties on a single financing statement.

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Status of Financing Statements

“Lapsed” or “Unlapsed,” and Perhaps “Active” or “Inactive,” but not “Terminated.”

The UCC’s recordkeeping requirement for filing offices (e.g., state Secretaries of State) is that the filing office must maintain records until at least one year after a financing statement would lapse.

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UCC Filing: Post Lien Search

Post Lien Recommended Steps Conducting a Post Lien Search is of the greatest importance for double checking to make sure the filing is on record and indexed correctly. What is

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Capitol Lien Court Research

Do you say “P.M.S.I.” or “pimm zee”?: Part 2

If a secured party has a perfected security interest in purchasemoney collateral, the secured party should be able to acquire purchasemoney priority – and take advantage of an exception to the general rules of priority – by satisfying the technical requirements of § 9-324.

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