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I usually provide the loan for the debtor to buy the assets – don’t I have something like a purchase money security interest?

April 26, 2017assets buy debtor don’t loan money purchase security usually

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I usually provide the loan for the debtor to buy the assets – don’t I have something like a purchase money security interest?

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A. Yes; BUT your rights with respect to those assets are with few exceptions not protected without an executed Security Agreement and the filing of a UCC-1 Financing Statement.