Tagged: UCC Filing
- September 19, 2018 at 4:58 am #238890
Ucc-1 and security agreement was filed in Arizona. Inventory and property is located in both Nevada and Arizona, inventory as security. No UCC filed in Nevada only in Arizona. Does lender have claim to inventory located in Nevada?September 19, 2018 at 5:03 am #249708
Dock David TreeceModerator
Thanks for your question. Unfortunately, UCC liens are a rather complex topic. Based on our research, the answer to your question would depend on where the debtor company is organized. If the lien is being filed against a company that is organized in Arizona, then our research indicates that it wouldn’t matter whether the company’s inventory is in Nevada or Arizona – the lien would probably be valid. If, however, the business is organized in a state OTHER than Arizona, then the lien filer may be required to go through a complex legal framework to perfect their lien.
UCC liens are obviously a very complex subject with a number of moving parts. If you have specific questions about particular circumstances, we highly recommend that you work with a local attorney who specializes in these matters.
If you’d like to read more about UCC liens, you’re welcome to check out some of our articles on the subject here: https://fitsmallbusiness.com/topic/ucc-filing/
Hope this helps,