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Updated over 6 years ago on . Most recent reply

User Stats

31
Posts
12
Votes
Stanford Neal Mead
  • Flipper/Rehabber
  • Salt Lake City, UT
12
Votes |
31
Posts

Private Lending, Liens, UCC Question

Stanford Neal Mead
  • Flipper/Rehabber
  • Salt Lake City, UT
Posted
Hello! I’m funding my first private loan this Monday. We used a promissory note with the property listed as collateral. The property is a manufactured home. Which UCC form do I need to file in order to get first position on the property? I started filling out the UCC-1, but was wondering if one of the addendum forms would be more appropriate? This was all negotiated over the weekend, and I haven’t had time to speak with my attorney. I‘ll be wiring the funds tomorrow if all goes as planned. Any advice would be greatly appreciated!

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