What kind of legal bearing does a UCC-1 Financing Statement hold in court?

[ncpawn]

What is the name of your state (only U.S. law)? NC

What kind of legal bearing does a UCC-1 Financing Statement hold in court?

 

[FlyingRon]

What is the name of your state (only U.S. law)? NC

What kind of legal bearing does a UCC-1 Financing Statement hold in court?

You'll have to explain what it is exactly you want to know. A UCC-1 is the statement that there is a security interest than the lender wants to enforce in court (i.e., get authority to reposses/sell the secured property).

 

[ncpawn]

You'll have to explain what it is exactly you want to know. A UCC-1 is the statement that there is a security interest than the lender wants to enforce in court (i.e., get authority to reposess).

I guess a more specific question is what legal bearings does it hold for a third party that never signed a UCC. Can they take actions against the third party and hold them liable for the loan. An item was brought into the shop and loan was given to the individual. He never came back for it so I sold it. Turns out there was a lien on the item.

 

[TigerD]

I guess a more specific question is what legal bearings does it hold for a third party that never signed a UCC. Can they take actions against the third party and hold them liable for the loan. An item was brought into the shop and loan was given to the individual. He never came back for it so I sold it. Turns out there was a lien on the item.

Are you still talking about the ATV?
You are in need of a long sit down conversation with an attorney. You don't understand the laws and how they apply to you. Please go talk to an attorney.

TD

 

[Zigner]

Are you still talking about the ATV?
You are in need of a long sit down conversation with an attorney. You don't understand the laws and how they apply to you. Please go talk to an attorney.

TD

Good catch.

 

[ncpawn]

Are you still talking about the ATV?
You are in need of a long sit down conversation with an attorney. You don't understand the laws and how they apply to you. Please go talk to an attorney.

TD

Whats this website even for then? You don't seem to be very receptive to questions. Who cares if its about ATV again, who cares if I am or am not speaking to an attorney. Isn't the sole purpose of this forum is to educate your self and get answers?

 

[Zigner]

Whats this website even for then? You don't seem to be very receptive to questions. Who cares if its about ATV again, who cares if I am or am not speaking to an attorney. Isn't the sole purpose of this forum is to educate your self and get answers?

Your attorney is the best one to speak to about your matters. He or she will be aware of all the facts relating to your matter.


Best of luck to you.