![]() If you are selling a home or securing financing using your home as collateral, there may be conditions that require the removal of the UCC-1 filing before the home can be sold or the financing process is completed. Some states refer to these filings as a lien on a collateral - in our case, it is the solar system we (or our dealers) installed on your home. It’s important to note that Sunnova files a UCC-1 financial statement with respect to the home solar system only, not your home. If you have received a loan to purchase your solar system, the lender may file a UCC-1 filing on the system as evidence of its security interest in the system until the loan is paid off. In addition, if a home is foreclosed, the UCC-1 filing prevents the bank from claiming the home solar system as part of the homeowner’s property. This helps prevent the unauthorized sale of our home solar equipment. When a homeowner enters into a PPA or lease, the solar service provider (third-party owner) may file a Uniform Commercial Code filing (UCC-1) on the home solar system to show that it is the true owners of the home solar system.Īt Sunnova, the UCC-1 filing is a public declaration of our solar system ownership. No, a Sunnova does not put a lien on your home. ![]()
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