New Hampshire UCC & Business Searches
New Hampshire Rates
Secretary of State
NH County Searches
The New Hampshire office of Uniform Commercial Code (UCC) serves the commercial lending and banking community by acting as a repository for filed documents which perfect security interests in certain personal property used as collateral for loans. These filings help a secured creditor establish priority claims on assets in the event of debtor bankruptcy, insolvency or default. The office is responsible for providing a universally accessible, secured transaction registry for users and beneficiaries of the UCC process, including accurate and current information about filings and attachments for commercial lenders and other interested parties with debtor filing history.
Account: Any right to payment for goods sold or leased or for services rendered which is not evidenced by an instrument or chattel paper, whether or not it has been earned by performance. Accounts are often referred to as accounts receivables.
Amendment: A document that is filed to note some type of change to the original financing statement.
Assignee: The person to whom an assignment is made. They then are considered the secure party.
Assignment: An original creditor may assign his right in a secured transaction to another creditor.
Attachment: Refers to a page or pages affixed or attached to a UCC document to continue the description of collateral.
Chattel Paper: A writing or writings (security agreement) which evidence both a monetary obligation and a security interest in or a lease of specific goods which may include personal property. When a transaction is evidenced by such a security agreement or a lease and by an instrument or a series of instruments, the group of writings taken together constitutes a chattel paper.
Chattel Mortgage: A lien against property that is granted to secure an obligation, specifically in this case as it relates to chattel paper or such security agreement.
Collateral: The property subject to a security interest i.e., accounts, goods, fixtures, etc.
Consumer Goods: Goods that are used or bought for use primarily for personal, family, or household purposes.
Contract Rights: Rights to funds pursuant to a contract when funds are not yet earned as there has been no performance or there is no instrument or chattel paper.
Debtor: The party who owes payment or performance of a secured obligation.
Deed of Trust: A deed conveying title to real property to a trustee as security until the grantor repays a promissory note. This document resembles a mortgage.
Effective: A state of being in force and enforceable which is the effect of an UCC document between parties being employed under law, using a specific form and other criteria applied, to establish a relative right or rights to a security interest. If the filing requirements of Article 9 of the Uniform Commercial Code are met as adopted by the state of jurisdiction, a UCC filing is effective for a five-year period unless properly terminated prior to its lapse. A UCC filing can be continued under law to extend the effectiveness period for subsequent five-year periods
Equipment: Goods used or bought for use primarily in business (including farming or profession) or by a debtor who is a nonprofit organization or a government subdivision or agency or if the goods are not included in the definitions of inventory, farm products or consumer goods.
Exhibit: (Same definition as Schedule; usually referenced as Exhibit A, etc.)
Farm Products: Goods that are crops, livestock, or supplies used or produced in farming operations or if they are products of crops or livestock in their unmanufactured states (such as ginned cotton, wool-clip, maple syrup, milk and eggs), and if they are in the possession of a debtor engaged in raising, fattening, grazing or other farming operations. If goods are farm products, they are neither equipment nor inventory.
File: To arrange in order for reference and preservation. Usually arranged in sequential order.
Financing Statements: The document filed at the state and/or local jurisdiction, which states the names and addresses of the debtor and the secured party and a description of the collateral. When filed, a financing statement perfects the security interest of the secured party.
Fixtures: Goods, which start out as personal property, are integrated into or affixed to realty and thereafter, lose their character as personal property and become part of realty.
Fixture Filings: The act or an instance of recording, in public real estate records, a security interest in personal property that is a fixture to real property or is intended to become a fixture.
Federal Filing Office: Refers to a public records indexing system at the Federal jurisdictional level. There are indexes for the US District Court system that has case record information pertaining to judgments and pending litigation, both civil and criminal. And there are indexes for the US Bankruptcy Court system, which has record information pertaining specifically to bankruptcy matters.
General Intangibles: Any personal property (including things in action) other than goods, accounts, chattel paper, documents, instruments and money.
Good Faith: Means honesty in fact in the conduct or transaction concerned.
Goods: All things which are moveable at the time the security interest attaches or which are fixtures, but does not include money, documents, instruments, accounts, chattel paper, general intangibles, or minerals or the like (including oil and gas) before extraction. “Goods” also includes standing timber which is to be cut and growing crops removed under conveyance or contract sale, unborn young animals and growing crops.
Instrument: A negotiable instrument, or a security, or any other writing which evidences a right to the payment of money and is not itself a security agreement or lease and is of the type which in the ordinary course of business is transferred by delivery with any necessary endorsement or assignment.
Inventory: Goods that are held by a person who holds them for sale or lease to be furnished under contracts of service. Also, raw materials, work in process, or materials used or consumed in a business. Inventory of a person is not to be classified as his equipment.
Lapse: Refers to a financing statement that has been effective to its term (usually five years in most states) and not continued or terminated.
Maturity Date: The date the debtor and the secured party agree to complete the terms of their agreement.
Multiple Debtor: Terminology referred to for a debtor when such debtor is an indebted party on a lien or filing that has more than one (1) debtor. This terminology is generally applied when performing or conducting a lien search on multiple subject names, and results are found in which the filing has two or more of the search subject names listed as debtors. The same principle applies to the term “multiple defendants”.
Partial Release: A document that releases part of the collateral from the original financing statement. This is usually done when part of the obligation if fulfilled.
Perfection: The filing of a financing statement pursuant to the UCC creates a security interest in collateral. Hence, the security rights of the filer have been “perfected”.
Real Estate: Immovable property including timber, mineral rights, growing crops and leases of immovables. Record: To commit to writing, to write, transcribe or enter in a book for the purpose of preservation. Schedule: Identification of one or more pages attached to a UCC document. Usually referenced as Schedule “A”, etc.
Secured Transaction: A business arrangement by which a buyer or borrower gives collateral to the seller or lender to guarantee payment of an obligation.
Security Agreement: The terms of the agreement that creates a security interest between the debtor and a secured party.
Secured Party: A lender in a secured transaction. Security Interest: A lender’s right to personal property or fixtures which secures payment of performance of an obligation. The lender is deemed to have a security interest in the collateral. Subsequent: Following the first.
Termination: Once an obligation is paid or fulfilled the original financing statement must be terminated by the secured party. Under RA9, debtors may file termination statements, however, they are only effective if the secured party should have filed a termination and failed to do so.
Transmitting Utility: Any entity primarily engaged in the railroad, street, railway or trolley bus business, the electronics or electronics communications transmissions business, the transmission of goods by pipeline, or the transmission of electricity, steam, gas or water, or the provision of sewer service.