UCC Document Community

Update us when you figure out what's going on! I'm curious whether it turns out to be a Westlaw display issue or an actual name discrepancy. This kind of situation makes everyone nervous.

I've seen this exact scenario play out before and it's worth doing a comprehensive verification process. First, pull the actual UCC-1 filing from the other lender (not just the Westlaw summary) to see exactly how they listed the debtor name. Then cross-reference both your filing and theirs against the company's current articles of incorporation and their most recent annual report with the Secretary of State. The key is ensuring your UCC-1 matches the exact legal name as currently registered with the state - not just what the borrower told you or what appears on their loan application. If there's any discrepancy, file a UCC-3 amendment immediately. With $450K on the line, spending a few hours on verification and potentially $50-100 on an amendment fee is absolutely worth the peace of mind and protection of your security interest.

Bottom line: 5 years from filing date, continuation window starts 6 months before expiration. File early, double-check debtor information, and make sure you're still in the right jurisdiction. You've got this!

As someone new to UCC filings, this thread has been incredibly educational! I'm working on my first secured transaction and was completely unaware of the continuation requirements. The 5-year rule with the 6-month filing window makes sense, but I'm curious - are there any common mistakes newcomers make with continuation filings that I should watch out for? Also, does anyone have recommendations for reliable UCC search services to verify current filing status before preparing continuations?

For anyone reading this thread later - the Texas Secretary of State has a fraud alert section on their website specifically about UCC scam services. Worth checking out if you get one of these calls.

As someone who's been handling UCC filings for over a decade, I can tell you these cold-call services are almost always scams. The legitimate UCC service providers work through established relationships with law firms and financial institutions - they don't randomly call businesses. Your instincts are spot on. The Texas SOS portal is actually one of the better state systems, and at $15 per filing versus $150-300 these scammers charge, you're doing the right thing handling it yourself. Just make sure you're tracking your 5-year continuation deadlines properly with multiple calendar reminders, and you'll be fine.

Bottom line - the UCC statement request form is your best friend for equipment purchases. It gives you the official documentation you need to know exactly what liens exist and whether they'll affect your purchase. Don't try to cut corners on this part of due diligence.

Great advice from everyone here! Just to add one more practical tip - when you submit your UCC statement request, also consider requesting certified copies rather than just informational copies. For a transaction this size, having certified documents will be helpful if you need to provide proof to your lender or if any disputes arise later. The cost difference is usually minimal but the legal weight of certified copies can be important. Also, make sure to keep detailed records of exactly what you searched for (debtor names, variations, etc.) so you can show your attorney and any future stakeholders that you did thorough due diligence.

Good luck on your exam! The basic rule is simple - Article 9 governs secured transactions in personal property. Everything else builds on that foundation.

As someone new to UCC law, this thread has been incredibly educational! I'm particularly interested in the practical applications everyone has mentioned. Could someone explain how priority works when multiple parties have security interests in the same personal property? I understand Article 9 governs secured transactions in personal property, but I'm curious about what happens when there are competing claims.