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

• Related Articles

• 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).

• 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 ...

• 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 ...

• How Should Assets Be Transferred Legally Between An Operating Entity And Pass Through Trust

  The notarized Private Security Agreement (PSA) and perfect (filed) UCC-1 allows the creditor (Pass-Through Trust) to give up certain property and/or services to secure the debtor’s (Operating Entity) assets. Many people choose to list "proprietary ...