Form UCC5 Statement of Claim - Tennessee

What Is Form UCC5?

This is a legal form that was released by the Tennessee Secretary of State - a government authority operating within Tennessee. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is a Form UCC5 Statement of Claim?
A: A Form UCC5 Statement of Claim is a legal document used in Tennessee to assert a security interest in personal property.

Q: What is the purpose of a Form UCC5 Statement of Claim?
A: The purpose of a Form UCC5 Statement of Claim is to establish priority and provide notice of a security interest in personal property.

Q: How do I fill out a Form UCC5 Statement of Claim?
A: You need to provide information about the secured party, the debtor, and the collateral, including a detailed description.

Q: Is there a fee to file a Form UCC5 Statement of Claim?
A: Yes, there is usually a filing fee associated with submitting a Form UCC5 Statement of Claim in Tennessee.

Q: What happens after filing a Form UCC5 Statement of Claim?
A: After filing, the claim is recorded and becomes part of the public record, providing notice to potential creditors or buyers of the secured property.

Q: Can a Form UCC5 Statement of Claim be amended or terminated?
A: Yes, a Form UCC5 Statement of Claim can be amended or terminated by filing the appropriate forms with the Tennessee Secretary of State.

Q: Is it necessary to hire an attorney to file a Form UCC5 Statement of Claim?
A: While not required, it is recommended to consult with an attorney or professional document preparer to ensure the accuracy and legality of the filing.

Q: What is the time limit for filing a Form UCC5 Statement of Claim?
A: In Tennessee, a Form UCC5 Statement of Claim should be filed within 10 days of the debtor receiving possession of the collateral.

Q: Can a Form UCC5 Statement of Claim be searched by the public?
A: Yes, once filed, a Form UCC5 Statement of Claim becomes a public record and can be searched by anyone.