Single Extra Space Creates Seriously Misleading UCC Debtor Naming Error
September 15, 2017
UCC, Online UCC System, Due Diligence, Revised Article 9, Reduce Financial Risk, Tips Something
A recent court ruling in Wisconsin once again has affirmed the supreme importance secured parties must place on their data entry procedures when naming debtors on financing statements to perfect their security interests.
A recap of the case can be found here. Once again, a typo in the debtor name created a UCC filing that was judged to be seriously misleading, and therefore left the secured party’s security interest with the debtor…READ MORE
Can A UCC Filing Be Terminated By The Debtor?
August 10, 2017
UCC, Due Diligence, Tips Something
In a word, yes, as long as there is no existing obligation to the lender and one follows a specific process.
The process for debtors to terminate UCC filings on themselves is provided for in the Uniform Commercial Code and can be found here in Section 9-513 of the Uniform Commercial Code. That process includes the below steps:
the Debtor must send an authenticated demand to the secured party
the demand must be sent to the name…READ MORE
Tips To Determine Which Party Names To Search When Lien Searching
July 07, 2017
UCC, Due Diligence, Reduce Financial Risk, Tips Something
Searching the correct party and correct legal name is imperative when coordinating due diligence search efforts. It is important to search all names under which liens could be filed.
This may seem simple and obvious, but keep in mind that liens, particularly involuntary liens like federal tax liens and judgment liens, could be filed under business names, individual names, aliases, nicknames, or even fictitious business names.
So, how…READ MORE
Three More Tips For Bulk Sale Escrow Officers In California – Revisited
May 12, 2017
Due Diligence, Tips Something
Below is a repost of a popular post from last year for our California Bulk Sale Escrow Officers. We’ve been supporting Escrow Officers handling bulk sales for a quarter century, and over that period we’ve learned more than just a few things from our friends in the industry, and in this blog post we share three more tips for Bulk Sale Escrow Officers in California that we’ve learned and their importance.
Tip#1: ‘Reading’ Your…READ MORE
Three Tips For Bulk Sale Escrow Officers In California–Revisited
April 27, 2017
Due Diligence, Tips Something
Below is a repost of a popular post from last year for our California Bulk Sale Escrow Officers. We’ve been supporting Escrow Officers handling bulk sales for a quarter century, and over that period we’ve learned more than just a few things from our friends in the industry, and in this blog post we share three tips for Bulk Sale Escrow Officers in California that we’ve learned and their importance.
Tip #1: Search an individual…READ MORE
Tips To Maintain Your Perfected Security Interest
February 24, 2017
Reduce Financial Risk, Tips, Lien Monitoring Something
Considering all the effort and resources you put into qualifying your debtors and perfecting your security interests, it's good to know there are some excellent tools you can utilize to help maintain that priority and make your efforts pay off.
Why go to all the trouble to investigate a potential new debtor’s credit worthiness, and decide to perfect your security interest by filing a Financing Statement in the correct jurisdiction, if…READ MORE
Managing Secretary Of State–Annual Report Compliance For “Good Standing” Status
January 26, 2017
Corporate, Tips Something
Do you know if your entity, or portfolio, has filed the latest Secretary of State Annual Reports? How do you know if you have missed a filing? Or if the state cashed your check but did not actually record the filing?
Once your entity has filed with one or more Secretary of State offices, you have created a growing obligation to keep basic pieces of public data current though annual/biennial filings. These Annual Reports seem simple…READ MORE
Top Ten Things To Look For In A Title Search Company
January 05, 2017
Tips, Title Related Topics Something
Creating a title report is a complex and detailed process. It requires experience and industry expertise to craft a comprehensive report that you can trust to assist you in making decisions. Here's a look at the top ten things to consider when you choose a title search company to help you.
Does your search company keep their word? Do you get your reports when promised?
Do they have errors & omissions insurance?
Tips For UCC Due Diligence Planning 2017
December 29, 2016
UCC, Tips Something
With the New Year upon us, end of year deadlines and commitments drive activity. So much still to do! One of the to dos we all have is to make our plans for the next year. We review systems and solutions, processes and procedures, with an eye on fixing any breakdowns that have been experienced and on determining if any changes need to be made.
When it comes to evaluating your UCC management, you need a UCC service partner that supports…READ MORE
Tips For Your Fast-Paced Year End Corporate Transaction (Parts I and II)
December 23, 2016
Corporate, Tips Something
After receiving such a positive response to this pair of blog posts back in October, and with year end literally now here, we present them again conveniently in one post, just in case you missed it. Happy Holidays!
Year end is here. Lightning speed transactions require entity Formations and Registrations in several states. Below, we have listed some reminders to help you through the year-end rush.
Delaware Direct Access.