Why would a local gas company file a UCC financing statement on a neighbor's gas tank?

Answer 1

UCC stands for Uniform Commercial Code. A UCC financing statement is generally used to secure collateral on items that don't have titles. For example, if you get a loan on a car, there is a title and the bank/finance company will put a lien on the title of the car but if you get a loan on household furnishings such as a gas tank, or furniture or maybe a big screen TV the finance company will file a UCC financing statement. This tells the state that the finance company/bank has a lien on that personal property.