Uniform Commercial Code FAQs
Definitions
One who takes in cattle to pasture at a certain rate.
An interest in farm products that originates from the
- provision of goods or services, or
- the leasing of property
to a debtor in connection with the debtor's farming operation. The effectiveness does not depend on the person's possession of the property. [1]
Property that can be used for the payment of debts. This includes money, personal property, real property (land), and intangibles such as patents and copyrights.
To formally transfer legal rights or interest in property from one person to another.
When rights or interests are transferred from one person to another, the assignee is the person who receives those rights.
The formal transfer of legal rights or interest in property from one person to another.
The person who transfers their rights or interests in a person's property to a third person.
Attachments are files that are added to a form before it is submitted. Attachments become part of the record.
The person who files an amendment. An authorizing party is usually a secured party on the record.
In some cases, a debtor may be authorized to file an amendment- in that case, the debtor would be the authorizing party.
A person with whom property is left, usually in connection with a contract. The bailee is responsible for the safe return of the property to the owner when the terns of the contract are fulfilled.
A person who leaves property in the custody of another, usually in connection with a contract.
The Colorado Secretary of State.
The Colorado Secretary of State.
A system for filing effective financing statements (EFS) on a statewide basis. The central filing system is certified by the secretary of the United States Department of Agriculture (U.S.D.A.). See section 1324 of the Food Security Act of 1985 (PDF).
An official document stating that certain things are true.
A copy of an original document that is certified as a true copy. A certified copy will have a stamp, seal, or certificate with a signature from the official who is responsible for maintaining the document.
Personal property. Chattel does not include real estate or items connected to real property.
A record of a debt and a security interest in specific personal property.
A statement of a right to property, money, or legal remedy.
A person who claims a security interest in another person’s property. A claimant is similar to a secured party.
Property that is pledged by the owner to another person to secure a debt.
A collection of laws that addresses commercial transactions, including sales, bank deposits, collections, letters of credit, and investment securities.
Law relating to the rights of those engaged in commerce.
A merchant who receives the goods in a consignment.
When an owner (consignor) delivers goods to another person (consignee) for sale or delivery to a third party.
A person that delivers goods to a consignee.
Continuing a filing (record) means that you are renewing it for another period of time.
Numbers assigned to each county for identification. See the county code FAQs.
Documents filed with the county clerk and recorder. Before 2000, many UCC documents were originally filed with a county, then later moved to the Secretary of State's records.
A person who extends credit to another person.
- Crops grown in soil: the year that it is or will be harvested.
- Animals: the year that they are born, acquired, or owned.
- Poultry or eggs: the year that they are or will be sold.
Colorado Revised Statutes.
Something that one person owes to another. A person can owe money, goods, or services.
A person who owes a debt to another person.
The date when something is considered to have taken effect. For a UCC record, the effective date is the date that the document was filed.
Effective Financing Statement.
A financing statement that involves farm products.
A specific crop or type of livestock that is used as collateral.
A document entered into the official public record.
An office designated as the place to file a financing statement.
A form that is filed to give notice of an interest in a debtor's property.
Property that is treated as part of real property.
A financing statement that covers goods that are or will become fixtures.
Merchandise, commercial wares or personal property.
See natural person.
A claim on property, real or personal, based on a legal right, title, claim, or share.
- A state in the United States
- A foreign country or other foreign governmental authority, agency, instrumentality, or subdivision.
The jurisdiction where an entity or organization was formed under the law.
A person who rents real or personal property from another person.
A person who rents their real or personal property to another person.
A claim on the real or personal property of another that secures payment of a debt or performance of an obligation.
A dwelling that has a wheeled chassis permanently attached so that it can be transported from one place to another.
A list of all effective financing statements (EFS) that were effective as of the last day of the previous month. See the master list FAQs.
A security interest in property that results from the supply of material or labor to improve the property. Mechanic's liens are filed with the county where the property is located.
A lien, usually against real property such as land or a house.
A person who holds a mortgage.
A person who borrows money and uses real property to secure the repayment of the debt.
A human being. Also referred to as a "real person" or an "individual".
Normalized text is text that has been modified to make it consistent. See " Standard Search Logic" for information.
A person who is owed an obligation by another person.
A person who owes an obligation to another person.
- A person to whom property belongs.
- On certain liens, the owner is similar to a debtor.
Partial assignment
A partial assignment is an amendment to the original UCC document that allows the secured party to assign some of the collateral and/or selected parties to another secured party.
Partial release
A partial release is an amendment to the original UCC document or IRS lien that allows the secured party to exclude some of the collateral or selected parties from the lien.
How a security interest is protected by law against competing claims to the collateral. Perfection takes place when the secured party files notice of their security interest in our office.
An individual or an entity.
Property that belongs to a person. Personal property does not include real estate.
Anything is that owned by a person.
Land and any permanent attachments or improvements to the land. This includes buildings, fences, and all permanent attachments to buildings, such as heating, plumbing, lighting, masonry, etc. Also referred to as real property.
See natural person.
Land and any permanent attachments or improvements to the land. This includes buildings, fences, and all permanent attachments to buildings, such as heating, plumbing, lighting, masonry, etc. Also referred to as real estate.
A record is an original filing and any amendments or other documents associated with it. The record only includes documents that are filed with our office.
Covering up or removing text for security or legal reasons. See the redaction FAQs.
A person who holds a security interest in another person's property.
A secured transaction record is an original document and any amendments or other documents associated with it. The record only includes documents filed in our office.
An agreement that creates or provides for a security interest.
An interest in personal property, fixtures, or farm products that secures payment or performance of an obligation.
A person who exchanges goods or property for money or other payment.
A person who negotiates the sale and purchase of farm products on behalf of another person.
Any document that:
- is forged,
- is groundless,
- contains a material misstatement
- contains a false claim, or
- is otherwise clearly invalid.
A tax identification number is a group of numbers in a secured transaction record that the Secretary of State deems likely to be the social security number or individual tax identification number of an individual identified in the secured transaction record.
A form that is filed to end the effectiveness of a record.
A person primarily engaged in the business of:
- Operating a railroad, subway, street railway, or trolley bus;
- Transmitting communications electronically, electro magnetically, or by light;
- Transmitting goods by pipeline or sewer; or
- Transmitting or producing and transmitting electricity, steam, gas, or water.
Uniform Commercial Code.
A law governing commercial transactions, sales and leasing of goods, transfer of funds, commercial paper, bills of lading, secured transactions, etc.
A 10-digit number that is used as a substitute for a social security number or employer identification number in our records. They are used in Effective Financing Statements (EFS) and on the master list.
[1] 4-9-102(a)(5), C.R.S.