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#2215179 - 06/06/19 06:34 PM Filing UCC prior executing security agreement
swiggles Offline
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swiggles
Joined: Aug 2001
Posts: 7,351
Our manager would like to start preparing and filing UCCs as part of the document preparation process. This would mean that the UCC would be filed in advance of the security instrument being executed.

Is this legal?

Any opinions on adopting such a process?
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Article 9
#2215182 - 06/06/19 07:12 PM Re: Filing UCC prior executing security agreement swiggles
rainman Offline
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rainman
Joined: Nov 2004
Posts: 3,238
UCC 9-509 says the lender can file if the borrower has signed the security agreement, or if the borrower has otherwise authorized the filing in a signed or otherwise authenticated record. That means if you want to file in advance, they need to consent in a signed/authenticated document before you file. It can be in a loan application or a standalone consent or a letter.
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