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Realty
Related UCCs
To
record an Original realty related Uniform Commercial Code (UCC) document in the
real estate section of the Register of Deeds office you need:
- Two
National UCC forms –
- (1)
UCC Financing Statement, which is form UCC1
- On
this form be sure to check item #6
- Note
the asterisk in #1d indicating that social security numbers are not
required in Wisconsin. Remember
these documents are public records for everyone to see.
- (2)
UCC Financing Statement Addendum, which is form UCC1Ad.
- This
page is attached as a second page to the UCC1. The Addendum, item #11
can be used to add an additional debtor, or #12 for a complete legal
description of the affected real estate in #14. If you need more space
for the legal description, place the words, “#14 continued on the next
page”.
To record a realty related UCC
termination, continuation, assignment or amendment you need:
·
Two National UCC forms –
o
(1)
UCC Financing Statement Amendment, which is the UCC3
§
On this form Item # 1b must be checked (If this is not checked the
document
cannot be
recorded)
- In
item #8 check the appropriate box. If
more room is needed for the legal description, continue in item #13 of the
Amendment Addendum.
o
(2)
UCC Financing Statement Amendment Addendum, which is form
UCC3Ad.
§
The
debtor name and address must appear in item #13. (A common mistake is entering
this information in item 8)
§
Please
be sure to fill out #11 & 12 also.
All
the National UCC Forms are available on the DFI website:
www.wdfi.org/ucc
For
recording and indexing purposes, you must give debtor’s name,
the secured party’s name, and the complete legal description.
All
other UCCs filed with the Department of Financial Institutions (DFI) may be
searched on DFI’s website –
www.wdfi.org and select “Uniform Commercial Code” and then “UCC Search”
Fees:
"Since, Realty related UCCs are now
recorded in this office the regular
recording fees in 59.43(2)(e) apply - $30.00 per document. This includes terminations. DFI's Emergency Rule,
Page 6 (2)(f) states as follows: "The fee set in s 59.43(2)(ag), Stats,
shall be paid to a register of deeds for an initial financing statement
and amendment that indicates it is to be filed [or recorded] in the real
estate records in that office." The termination falls under "amendment;"
therefore, the fee is $30.00." |
