Last Updated on January 8, 2022
What is a UCC?
A Uniform Commercial Code, or UCC is a public notice that indicates a commercial transaction between a debtor and a secured party.
More specifically, a UCC Financing Statement gives lenders a claim on an asset that a debtor pledges as security interest, such as when an individual obtains a mortgage for a home. The home is the collateral pledged for the property. With the UCC-1 filed, the homeowner can’t take out another loan on the home without first paying off the initial loan.
What information does a UCC search show?
A UCC lien search will show the debtor name, file number, date, and time, secured party, lapse date.
Why is a UCC needed?
A UCC lien filing informs debtors and creditors of outstanding security interests in personal property.
Where is a UCC filed in Montana?
Most UCC filings are done with the MontanaSecretary of State’s office, however public records like deeds, mortgages, etc. are filed in the County Recorders Office of the County Clerk, in the county where the real estate is located
How much does a UCC search cost in Montana?
Searchers can subscribe and pay a subscription fee of $25 per month or do single searches for $7 per debtor or secured party name
How to do a UCC search in Montana
Step 1 – Go to the Montana Secretary of State’s website
Step 2 – Go to Business & UCC at the top of the page and click on UCC Services in the drop down menu.
Step 3 – If you are a subscriber, click on Copy/Search Requests Subscriptions
If you are not a subscriber, click on Search on the left side of the page then click on Liens at the top of the page
Step 4 – If you are a subscriber log in with your user name and password.
If you are not a subscriber you can conduct a basic search by searching a lien number