When more than one party claims an interest in the same collateral, a perfected secured party's interest has no priority.

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When more than one party claims an interest in the same collateral, the priority of interests is determined by the rules of Article 9 of the UCC. A perfected secured party will generally have priority over an unperfected secured party or unsecured creditor, but may not have priority over another perfected secured party with an earlier priority date or a statutory lienholder with priority under applicable law.

When More Than One Party Claims an Interest in the Same