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5/21/2012 3:24:13 PM
Every State has slightly different UCC laws, so it may vary a little. Basically, a UCC lien is recorded, as such, a search will show that UCC lien is placed on the business. A seller can still sell it with the lien, however, the buyer then assumes the responsibility of the UCC lien, as such, almost no buyer will actually buy a business with a UCC lien on it.
You can work out an agreement to do just about anything you want. I would advise you not to release the UCC lien, but get paid through Escrow so that when the seller sells the business, you can get paid directly from Escrow. It is your choice if you want to release the lien, though. It is risky, however, because once the lien is released and the business sold, there is no more security for your money.
You can work out an agreement to do just about anything you want. I would advise you not to release the UCC lien, but get paid through Escrow so that when the seller sells the business, you can get paid directly from Escrow. It is your choice if you want to release the lien, though. It is risky, however, because once the lien is released and the business sold, there is no more security for your money.
