What is a UCC?

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 person who owes a debt to the creditor as typically specified in the agreement creating the debt). 

Most commonly used to place a lien on business equipment or non-titled property being used as collateral for a commercial loan.

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