US Legal Forms
General Form of Security Agreement in Consumer Goods - Purchase...

Kentucky General Form of Security Agreement in Consumer Goods - Purchase Money Security Interest

Category:

Contracts - Sale of Goods

State:

Multi-State

Control #:

US-0887BG

Format:

Instant download

Description

A purchase money security interest is a security interest or claim on property that enables a lender who provides financing for the acquisition of goods or equipment to obtain priority ranking ahead of other secured creditors. A purchase money security interest allows lenders to repossess goods that have been purchased with funds borrowed from them if the borrower defaults.

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