UCC-1 stands for Uniform Commercial Code Form 1. It is a "Financing Statement" that is filed to show that one party (usually a lender) has a security interest in another party's (usually a borrower's) property. It applies to personal property, not real estate. It is not an agreement. It is just notice to the world that one person claims that it has an interest in someone else's property, usually as collateral for a debt. It is normally filed in the office of the Secretary of State in the state where the debtor/borrower is located. In most cases, located means the state of incorporation for corporations, the state of creation for limited liability companies and other entities, and the state of residence for indiviudals. There must be another agreement, called a security agreement, that actually grants the security interest and defines the terms of the deal. The security agreement and the UCC-1 combined are like a mortgage on real estate. The mortgage is both the notice and the agreement for real estate, while for personal property the notice and the agreement are separate.