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FAQs
  • What is a lien?
    Lien are legal claims to assets, often referred to as collateral, to secure payment for debts. In other words, it is a legal right to keep possession of an asset until a debt owed is paid. Liens can be placed on various types of assets, including real estate, and other property.
  • Is a lien the same as a loan?
    Loans and liens are different. In a secured loan, the debtor pledges collateral to cover the lender’s risk for the duration of the loan, giving the lender the right to take the collateral as payment particularly in bankruptcy proceedings. This right to take the collateral is the lien.
  • What is a UCC filing?
    A UCC filing refers to UCC-1 or UCC-3 filings done to establish the security interests on the public record. Liens can be voluntary or involuntary, and they can be created by various means, such as a mortgage or a court judgment.
  • What is a UCC-1 filing?
    A UCC-1 filing is an initial filing putting the lien on the public record to establish priority order of the lien.
  • What is a UCC-3 filing?
    A UCC-3 filing is an amendment filing to alter the status or details of the lien on the public record, such as in cases of terminal or re-assign the lien interests to another party.


ATTENTION: PLEASE READ PRIOR TO SUBMISSION
- CT Corporation, WK Lien Solutions nor any other Wolters Kluwer company condones any request for “straw man filing” information. Any inquiry into the aforementioned “filing” will not be returned as this type of “filing” is illegal and fraudulent. For more information, please refer to the IRS and FBI.

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