A UCC-1 Financing Statement (an abbreviation for Uniform Commercial Code-1) is a legal form that a creditor files to give notice that it has or may have an interest in the personal property of a debtor.
A UCC-1 Financing Statement (an abbreviation for Uniform Commercial Code-1) is a legal form that a creditor files to give notice that it has or may have an interest in the personal property of a debtor.
Filing UCCs in Washington, D.C. is a unique experience, different from doing so in states. Here’s what you need to know.
Washington, D.C. Home to stunning monuments, The Smithsonian—and an entirely unique Uniform Commercial Code filing experience.
Because Washington, DC is an independent city and not a state, its UCC process has a few—let’s call them—quirks. Knowing about and understanding them can help a filer in both the short and long term.
Security interest filings in Washington, DC are filed with the Recorder of Deeds (ROD). If you have a UCC against real property, better known as a “fixture filing”, this would be filed in the land records of the ROD, while vast majority are found in the “chattel” records (yes, DC still uses the word chattel). You may also search for Federal and DC tax liens and judgments at the ROD.
Perfecting the name of an organization or individual in a UCC-1 Financing Statement is very important in the protection of your security interest. Unperfected uniform commercial code filings can be deceptive and catastrophic.
