Legal Question in Credit and Debt Law in North Carolina

May i speak with someone whos exspirienced in the understanding of legal fictions and corporations and how to properly file ucc 1 financing statement.... All rights reserved without prejudice


Asked on 6/14/16, 1:20 pm

1 Answer from Attorneys

Why is this is credit, debt and collection law? Assuming you are asking a question about the various forms of legal ownership for a business, you should post your question to a business lawyer. Your last statement makes no sense at all. That has nothing to do with ownership by a business. There are only a few forms of ownership of a business: (1) sole proprietor doing business in own name; (2) proprietor doing business under a fictitious name is required to register it at the courthouse; (3) a partnership (in which case there is a partnership agreement) and business is registered if in some fictitious name; (4) incorporation - either as a subchapter s or c corporation (can be for profit or non-profit and subchapter s has to be obtained through the IRS I think); and (5) an LLC.

UCC 1 filing statements are filed with the secretary of state's office. Not sure if they should also be filed in the county where the property is located (when in doubt, file everywhere).

UCC 1 has nothing to do with forms of ownership of businesses. They are used to alert everyone else that a business or person has a security interest in property.

As I said, your last statement makes no sense. That type of language is either in a copyright notice or possibly in a contract.

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Answered on 6/14/16, 10:12 pm


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