Priority Conflicts between Security Interests

The video tutorial discusses the priority of collateral in conflicts between security interests. It explains the concept of liens, which are statutory devices that provide a temporary security interest in property to secure payment. Liens generally have priority over other security interests. The tutorial also covers the rights of buyers of collateral, noting that buyers typically take property subject to existing security interests unless exceptions apply. Finally, it distinguishes between perfected and unperfected security interests, emphasizing that perfected interests usually have priority.

What is a lien and how does it function as a security interest?

Explain the priority of a tax lien compared to other security interests.

What happens when a buyer purchases collateral that is subject to a security interest?

Describe the difference between perfected and unperfected security interests.

What scenarios can lead to conflicts over security interests?