Pt 5: UCC Searches – What is encompassed in a full Debtor Due Diligence Search?
Posted by Gennine
July 1, 2020
For the fifth installment in our series on The Perplexing World of Uniform Commercial Code Demystified, we’d like to talk about what is encompassed in a full Debtor Due Diligence Search?
If your company or client is involved in a closing, you may be in need of a Debtor Due Diligence Search on your party or the opposing party. This can provide a clear picture for you or the opposing party of the health of the target company. Do they have any outstanding Liens? What was used as collateral previously in a Lien situation? Have they filed for Bankruptcy? Have they been the Defendant in a Civil action? All great things to know ahead of your transaction!
Incorporating Services has you covered! Included in a standard Debtor Due Diligence Search, we abstract indexes* at the State Level, where you typically find Uniform Commercial Code filings and Federal Tax Liens. We also search the requested County Level where you typically find UCC Fixture filings, State Tax Liens, Pending Civil Suits and Civil Judgments. Last but surely not least, we search the requested District at the Federal Level for Civil Suits and Judgements as well as Bankruptcies.
You can request a Debtor Due Diligence Search nationwide with us today either online or by sending your request to firstname.lastname@example.org. Please give us a call if you have any questions or would like additional information. We look forward to hearing from you and stay-tuned for our next segment on Where to Search!
*each State is a little different regarding where an index is found; rest assured we have it covered and will return all indexes wherever found when a full search is requested.