UCC-1 Statement


DEFINITION of 'UCC-1 Statement'

One of the standard mortgage documents listed in the Uniform Commercial Code. The UCC-1 Statement lists and describes any personal property that is provided by the borrower as collateral for the loan. This document must be filed with either the Secretary of State or another appropriate official.


The UCC-1 is also known as the financing statement for the loan. This form must be time-stamped and assigned a file number. This secures the lender's claim to the assigned collateral.

  1. Mortgage

    A debt instrument, secured by the collateral of specified real ...
  2. Lender

    Someone who makes funds available to another with the expectation ...
  3. Perfected Lien

    A security interest in the collateral that is used to secure ...
  4. Bank

    A financial institution licensed as a receiver of deposits. There ...
  5. Financing

    The act of providing funds for business activities, making purchases ...
  6. Encumbrance

    A claim against a property by a party that is not the owner. ...
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