Posted by JD Seller on March 20, 2018 at 20:57:46 from (208.126.189.95):
In Reply to: Liens on equipment?? posted by Eldon (WA) on March 20, 2018 at 20:35:43:
In most states you can check UCC filings electronically. It is at the state level now by Federal law. I have checked on things I have looked at or even bought.
Here is the site for Washington state.
https://fortress.wa.gov/dol/ucc/
You will need to look for two things:
1)First is a blanket lean. If there is one of these on the equipment ALL the equipment is mortgaged. These are common for operating type of loans. So the bank is mortgaging all of that person's equipment until the loan amount is paid off.
2) Specific equipment UCC filings. These would be more common for financing New equipment. So you buy a new combine and finance it at JD or CNH there would be a UCC filing listing just that piece of equipment.
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