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UCC Filing

The New York Uniform Commercial Code governs transactions in which personal property is used as security for a loan or extension of credit. Pursuant to the law, the lender files a Financing Statement taking a security interest in the collateral identified in the statement, usually with the New York State Department of State. Where the Financing Statement covers collateral to be extracted or removed from real property, i.e. timber, or which covers goods that are, or are to become, fixtures (affixed to the land), the financing statement must be filed in the real property records in the County in which real property is located. A legal description of the real property to which the collateral is related, including the book and page in a deed or mortgage, must be included. In addition, if the debtor does not have an interest of record in the real property, the name of the record owner must be provided.

Forms and further information can be obtained at