Revised Article 9, Effective July 1, 2001 drastically changes the manner in which a party files financing statements.  As of July 1, 2001 the La Crosse County Register of Deeds Office can accept realty related financing statements only. 

What is needed to record realty related Uniform Commercial Code (UCC) document in the real estate section of the register of deeds office?

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. Notice the asterisk in #1d indicating that social security numbers are NOT required in Wisconsin. Also notice that item #6 MUST BE checked so that the document can be recorded.

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, the complete legal description, and the parcel identification number (PIN).

What is needed to record a termination, continuation, assignment or amendment to 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 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.

Where can the National UCC forms be obtained?

At the Department of Financial Institutions website: http://www.wdfi.org/ucc

 
What fees are required to record realty related UCCs?

Realty related UCCs are now recorded in this office and the regular recording fees in 59.43(2)(e) apply - $11 for the first page and $2 for each page thereafter. 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;" therefore, the fee is $11 plus $2.

How are realty-related UCC records to be searched?

Wisconsin Act 10 – 409.710(4) directs local register of deeds until at least June 30, 2008 to perform searches of pre-July 1, 2001 searches and provide copies of the same.

1.  Local registers of Deeds offices do not perform searches of the Tract Index or Grantor/Grantee Index.

2.  Pre-July 1, 2001 Filings – searches $15 per name.

3.  Copies are $2 per page.

How are other UCCs filed with the Department of Financial Institutions (DFI) to be searched?

Go to the DFI website - www.wdfi.org and select "Uniform Commercial Code" and then "UCC Search."

You can search by debtor name, secured party name or file number. With this new system you must use exactly the same way the filing was filled out to get a match and retrieve a record. There is no fee to access this system.