Priority of Multiple Purchase Money Security Interests

The video tutorial explains the concept of multiple purchase money security interests in collateral, highlighting situations where multiple parties provide funds or enabling loans. It discusses the priority of security interests, emphasizing that a financier's interest typically takes precedence over an enabling loan. The tutorial also covers the importance of filing and perfecting security interests, noting that the first to file generally has priority, especially within a 20-day window.

What is the significance of the 20-day window in filing for a purchase money security interest?

What happens if a party files outside of the 20-day window regarding their security interest?