Securing Collateral Part 2: Purchase Money Security Interests: Taking Priority Over a Perfected Creditor

Part 2 of this two-part series will explain how your institution can obtain a priority purchase money security interest even though another secured party already holds an existing perfected security interest in the collateral.  UCC Article 9 details the steps that must be taken and the timing that must be satisfied to obtain priority over an existing perfected creditor and the steps and time periods differ depending on the type of collateral.  Don’t operate at a disadvantage by not understanding these special rules!  Join us for a deep dive into purchase money security interests.