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Must a cooperative do a UCC search when it is not sure if

Customer Question
financing exists on a cooperative...
Must a cooperative do a UCC search when it is not sure if financing exists on a cooperative unit. This question is being asked to insure that if the cooperative states that it has no proof of financing on its records of a specific unit but wants to initiate legal proceedings against same must they do so?
Please identify any law applicable thereto.
Submitted: 6 months ago.Category: Business Law
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Answered in 27 minutes by:
7/14/2017
Business Lawyer: Attorney2, Attorney replied 6 months ago
Attorney2
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Welcome to JA and thank you for your question. I will be the Attorney that will be assisting you.

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Business Lawyer: Attorney2, Attorney replied 6 months ago

This is common law/contract law. This would only be required if there is a contract that provides for this type of search. Who is requesting this?

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Customer reply replied 6 months ago
Coop initiated holdover and now it's discovered they never served secured parties which is written in lease as a prerequisite to filing it's petition and notice of petition. They're argument was that they did not have record on file of coopera rive of the existence of the secured party. My understanding is that the case must be dismissed, inter alia, for failure to comply with terms of the lease in terminating it.
My further understanding is that the UCC exists to make known to the world the existence of a secured party, and by running a UCC search you should be able to secure knowledge of the existence of a secured party.
Business Lawyer: Attorney2, Attorney replied 6 months ago

What is your question for me?

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Customer reply replied 6 months ago
I was replying to your question. You need to answer it quickly.
Business Lawyer: Attorney2, Attorney replied 6 months ago

Let me opt out as your response is confusing to me.

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