When more than one security interest has been perfected in the same collateral, they are entitled to proportionate shares in the value of the property, but neither has priority.

Question

Quizplus · Accepted Answer

When more than one security interest has been perfected in the same collateral, priority is generally determined by the order in which the security interests were perfected, not by dividing the value proportionately among the secured parties.

When More Than One Security Interest Has Been Perfected in the Same