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Posts tagged "Replevin Repossession Collateral Recovery After-Acquired Security Vehicle Car Loan Rhode Island"

"After-Acquired" UCC-1 Filing Has Priority Over Unperfected Car Loan Security Interest

Justice Stern of the Rhode Island Superior Court has issued a decision holding that a creditor with a UCC-1 filing that includes after-acquired property has a priority security interest in the debtor's company car over another lender who financed the purchase of the vehicle but failed to perfect its security interest. Pet Food Experts, Inc. v. Alpha Nutrition, Inc., d/b/a, C.A. No. KC-2015-1003, slip decision, (R.I.Super. May 10, 2016). The decision extensively analyzes Rhode Island law on security interests and is a good primer for those who practice in the area.