A search of public records for Uniform Commercial Code (UCC) filings related to secured transactions.
Definition
A UCC filing search involves examining publicly available records filed under the Uniform Commercial Code to identify financing statements, liens, or security interests recorded by creditors against a debtor's personal property or collateral.
Why It Matters
Conducting a UCC filing search is essential in investigative research and due diligence to uncover existing liens or security interests that may affect ownership rights or financial obligations tied to a person or business, thereby informing risk assessment and verifying asset encumbrances.