Posted by Ken (in Iowa) on September 12, 2003 at 17:33:58:
UCC (Uniform Commercial Code) Statements are for securing some sort of commercial financing. I am in the equipment leasing business, and those who underwrite equipment leases file UCC statements against the equipment they are purchasing and leasing to the end user. With a UCC filing against real estate, I would guess that some entity is attempting to further securitize their interest in something else. It’s essentially a lien against the property, like any other lien. It will need to be negotiated off of the property in some way in order to pass clear title.
Hope this helps,
Ken (in Iowa)