Where do I file a UCC-1 financing statement in Georgia?

UCC Real Property Related Financing Statements are required to be filed and recorded in the real estate records of the office of the clerk of superior court in the county where the real property is located.

What is a UCC-1 financing statement used for?

In fact, it is sometimes called a UCC financing statement. A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtor’s personal property. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.

Is Georgia a UCC state?

With the passage of legislation in 1993, the state of Georgia established a statewide system for the indexing of Uniform Commercial Code Georgia documents. Georgia became the first state in the nation to privatize this traditional state function by outsourcing the indexing of the instruments to a third-party vendor.

How much does it cost to file a UCC in Georgia?

$25 per document
The filing fee is $25 per document. make checks payable to the Georgia Superior Court Clerks’ Cooperative Authority.

How long is a UCC-1 Financing Statement good for?

five years
The UCC’s general rule is that a financing statement remains valid for a period of five years from the date of filing. Unless a continuation statement is properly filed before expiration of the five year period, the effectiveness of the financing statement will lapse.

How long is a UCC filing good for in Georgia?

How long is a UCC valid in Georgia?

The UCC’s general rule is that a financing statement remains valid for a period of five years from the date of filing. Unless a continuation statement is properly filed before expiration of the five year period, the effectiveness of the financing statement will lapse.

How long does a UCC last in Georgia?

Like other personal property related UCCs, these filings need to be continued every five years to avoid lapsing.

How long is a UCC good for in Georgia?

Are UCC filings bad?

Are UCC Filings Bad? UCC filings are not necessarily bad. Most business financing is secured with collateral, and a UCC filing is a standard step in the process to obtain a collateral-secured loan. The UCC filing simply a legal notice stating that a lender is using a lien to secure your business loan.

Has Georgia adopted the UCC?

Adopted by all 50 states, the Uniform Commercial Code (UCC) is a set of rules that regulates business transactions across the US.

Is a UCC filing good or bad?

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