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United States
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GroundClearance

  1. 2001 changes are called RA-9. Pre RA9 liens were filed at a centralized state agency or local recording office. 4200+ places to record liens
  2. Tax liens against businesses may be filed at a central state location or county level
  3. Tax liens against individuals are generally filed at county level. (Recorder, register of deeds, clerk of court, etc)
  4. A lien is a debt secured by a UCC filing and filed by whoever the loaned the money. UCC is short for Uniform Commercial Code.
  5. Contact GroundClearance for your lien search needs. Lien search company w/ an equipment backgrd We understand the risks in buying & selling.
  6. It's National Tap Dance Day. Today is a great day to dance the night away....
  7. Liens should be researched in the state a company is organized, not where the equipment or office is located.
  8. If equipment is purchased and the debt is not paid off, the lien follows the machine It was the collateral that held the note.
  9. The creditor will follow the collateral. It’s legal to sell machinery w debt, it’s just not ethical if the funds aren’t used to pay it off.
  10. naco.org is a great site for finding which county a city is located
  11. Ground Clearance will provide documentation a seller can provide to the buyer showing status liens, instead of the entire search.
  12. When equipment is sold a lien search should always be done by the seller or the buyer.
  13. A UCC filed against an individual (not business) should be filed where the person resides
  14. There are over 3600 locations in the US to file a lien notice or record a document. There are no standard rules or practices among locations
  15. It's National Escargot Day. Let's go out and eat some snails! You first!
  16. The new owner files suit against the seller who didn’t have moneys for the bank to collect. It’s messy, time consuming, and very expensive.
  17. Purchase Money Security is the major exception to "the first to file" rule. You still need to contact blanket lienholders for interest.
  18. A purchase money secured lien is important because, legally, it should take precedence over others no matter when they are filed.
  19. First creditor filed has first chance to be paid. The second creditor filed has opportunity to request remaining funds.
  20. If the equipment is held as collateral on more than one lien, the liens should be paid off in the order they were filed.