Partial release and partial assignment

Q1. How does a partial release change a UCC record?

A1. A partial release is filed as an amendment to the original UCC filing. This amendment states which collateral or party was released from the lien.

Q2. Can I file a partial release?

A2. In most cases, a secured party named on the record is responsible for filing a partial release.

Generally, the IRS will terminate or release an IRS lien. In some cases, the IRS will prepare a release or withdrawal form and give it to the taxpayer to file.

In some circumstances, a debtor can release a UCC Financing Statement. If the debtor's obligation has been fulfilled and the secured party fails to file a release, the debtor may choose to file a release. For more information, see sections 4-9-513 and 4-9-509, C.R.S.

Q3. As a secured party, can I file a partial assignment?

A3. Yes. By filing an amendment to the original UCC document, you may add an assignee to the collateral associated with the UCC filing.

Q4. How do I file a partial release/assignment?

A4. To file a partial release:

• Go to the UCC filing system.
• Click on "Amend an existing record"
• Enter the original document number of the record that will be released.
• Choose the filing office where the original document was filed in the drop-down menu.
• Click on "Search."
• Review the record information.
• Continue to the Collateral tab.
• Select to Add, Delete, or Restate collateral to modify the record.
• Continue through each tab and submit payment; you will be taken to a confirmation page once the filing is complete

For help with filing, see the form instructions.