Reviewing UCC search results reveals more than just active filings; it also uncovers terminated and lapsed filings that are often dismissed, overlooked, or erroneously terminated. Commercial finance attorneys, small business lenders, and corporate paralegals who dismiss ‘inactive’ filings can create gaps in risk assessment and the overall financial health of the debtor. Terminated or lapsed filings may indicate previous secured relationships or incorrect terminations that are still relevant to your transaction. These records merit closer inspection, and ignoring them could possibly expose...
Reviewing UCC Search Results: Know the Risks of Ignoring Terminated or Lapsed Filings
