Does The Private Security Agreement or UCC-1 Need To Be Filed

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• Purpose of the UCC-1

  A UCC-1 can be thought of as a financing statement giving notice to the public that the trust (or other entity) has a secured interest in the personal property that is being used as collateral in a secured transaction (via the Private Security ...

• When Will A Private Security Agreement Need To Be Shown

  Hopefully never, but if shown it will be for the judge to determine financial status(es).

• Where Is The UCC-1 & Private Security Agreement Found

  These documents are found in Section 3: Trust Web Secrets & in Section 7: Trustee Legal Library

• The State Won't Allow Physical Filings for UCC-1 - It's Only Allowed Online - What Now

  Some states have moved to online filing for UCC-1s, but this does not inhibit a trust from printing out a UCC-1 and not filing it. The non-filed UCC-1 is simply there to show proof of an agreement regarding a debtor/creditor relationship, in addition ...

• Does The Private Security Agreement Give Legal and Equitable Title To The Interest

  Security interest is a legal claim (i.e. legal title) on collateral that has been pledged, usually to obtain a loan. This gives a creditor the right to repossession (i.e. equitable title) should the loan ever be called due. This security interest can ...