To record a UCC realty document, you need two National UCC forms – (1) the UCC Financing Statement, which is form UCC1, and (2) the UCC Financing Statement Addendum, which is form UCC1Ad. All pertinent information on both forms must be filled out legibly with black ink.
The addendum is attached as a second page to the financing statement. The addendum serves a number of purposes. You can use #11 to add an additional debtor, or #12 for an additional secured party or assignor. Be sure to check the correct box in #13 and give the complete legal description of the affected real estate in #14. If you need more space for the legal, place the words, "#14 continued on the back of this page," or "#14 is continued on the next page," or "#14 is attached," at the bottom of the space for number 14.
For recording and indexing purposes, you must give debtor's name, the secured party's name and the complete legal description.
To record a termination, continuation, assignment or amendment to a realty related UCC, you need two National UCC forms – (1) the UCC Financing Statement Amendment, which is form UCC3, and (2) the UCC Financing Statement Amendment Addendum, which is form UCC3Ad. All pertinent information on both forms must be filled out legibly with black ink. Be sure to check #1b so that the document can be recorded. Place the debtor's name and the complete legal description in area #13. For the debtor's name, use the exact same format as item 1 on the original UCC Financing Statement and the name of the real estate owner if debtor does not have ownership interest.
For recording and indexing purposes, you must give the original filing number, the debtor's name, the secured party's name, the complete legal description and PIN. Be sure to fill out #11 and #12 as well as #13.
Will my realty related UCC need to be continued to be valid?
Yes. It is YOUR responsibility to make certain your financing statement has not lapsed and that the continuation is recorded within the 6th month window prior to lapse. Use the Amendment form for the continuation.
What is needed to record a partial release of a realty related UCC?
A partial release is now considered a type of Amendment. You need two National UCC forms – (1) the UCC Financing Statement Amendment, which is form UCC3, and (2) the UCC Financing Statement Amendment Addendum, which is form UCC3Ad. All pertinent information on both forms must be filled out legibly with black ink. BE SURE to check #1b. If 1b is not checked, the document cannot be recorded. You need to use area #8 and check "Describe collateral deleted," and write "See real estate deleted in #13." Place the debtor's name AND the legal description of the land to be deleted in area #13. For the debtor's name, use the exact same format as item 1 on the original UCC Financing Statement and the name of the real estate owner if debtor does not have ownership interest.
For recording and indexing purposes, you MUST give the debtor's name, secured party's name, the legal description and PIN. Be sure to fill out #11 and #12 as well as #13.
What fees are required for realty related UCCs?
Realty related UCCs are now recorded in this office and the regular recording fees in 59.43(2)(e) apply-$30 per document, regardless of the number of pages. This includes terminations. DFI’s Emergency Rule, Page 6 (2)(f) states as follows: “The fee set in s.59.43(2)(ag), Stats, shall be paid to a register of deeds for an initial financing statement and amendment that indicates it is to be filed (or recorded) in the real estate records in that office.” The termination falls under “amendment”.
More information about fees can be found here.
How are other UCCs filed with the Department of Financial Institutions (DFI) to be searched?
Go to the DFI website.
