If there are several lien claimants with security interests in a property, which claimant has priority?
What will be an ideal response?What will be an ideal response?
As between lien claimants and others with security interests in the property,
such as the seller of the property who retains a security interest or a
construction lender, the party who perfects its interest first takes priority.
Lenders go to great lengths to make sure their lien is recorded first so they
have priority over others.
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Indicate by YES (Y) or NO (N).
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Fill in the blank(s) with the appropriate word(s).