Priorities

Question 1

Perfected v. Unperfected

Answer 1

A perfected security interest has priority over a a conflicting unperfected security interest in the same collateral.

Question 2

Unperfected v. Unperfected

Answer 2

Two competing unperfected security interests, the first to attach will prevail.

Question 3

Perfected v. Perfected

Answer 3

“First in time, First in right”
The first creditor to perfect has priority.

Question 4

Judgment Lien Creditors

Answer 4

Have priority over conflicting security interests if person became lien creditor before conflicting security interest was perfect.