North Carolina Purchase Money Security Agreement in Inventory along with Promissory Note
Category:
State:
Multi-State
Control #:
US-0891BG
Format:
Word;
Rich Text
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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